From talking to lots of working class friends, meaning, not white collar, yes - they are in a constant state of financial collapse.
I think people do not truly gauge just how poorly adjusted wages are and just how expensive everything is. A fast food meal is now anywhere from 15-20 dollars. That's about an hour of labor for many, many people.
To put into perspective, where I live a one-bedroom is gonna run you 1200 dollars a month minimum. And that's gonna be a sketchy one bedroom. At a wage of 20 dollars an hour and 35 hours a week, that's about 2800 dollars a month. So you can't afford a one bedroom, period. Bearing in mind, healthcare alone will eat a couple to a few hundred dollars a month. Food, another few hundred at least.
You can optimize, of course. Rent a house with three other people, eat only cheap cooked foods like beans, drive a beater. But it's gonna be a fierce financial struggle always. You get sick, you need surgery, your deductible is 7 grand - you're fucked. Fucked completely, and that's not counting the lost wages. Or the 300 dollars a month you've burned on a healthcare premium for years. These people have no savings, and certainly no investments.
And, to top this all off: 20 dollars an hour is a good wage in my state. 15 is not uncommon at all. If you're wondering why or how people work 2-3 jobs, this is how.
Comments
From talking to lots of working class friends, meaning, not white collar, yes - they are in a constant state of financial collapse.
I think people do not truly gauge just how poorly adjusted wages are and just how expensive everything is. A fast food meal is now anywhere from 15-20 dollars. That's about an hour of labor for many, many people.
To put into perspective, where I live a one-bedroom is gonna run you 1200 dollars a month minimum. And that's gonna be a sketchy one bedroom. At a wage of 20 dollars an hour and 35 hours a week, that's about 2800 dollars a month. So you can't afford a one bedroom, period. Bearing in mind, healthcare alone will eat a couple to a few hundred dollars a month. Food, another few hundred at least.
You can optimize, of course. Rent a house with three other people, eat only cheap cooked foods like beans, drive a beater. But it's gonna be a fierce financial struggle always. You get sick, you need surgery, your deductible is 7 grand - you're fucked. Fucked completely, and that's not counting the lost wages. Or the 300 dollars a month you've burned on a healthcare premium for years. These people have no savings, and certainly no investments.
And, to top this all off: 20 dollars an hour is a good wage in my state. 15 is not uncommon at all. If you're wondering why or how people work 2-3 jobs, this is how.