/biz/ - Business & Finance

[Anonymous No.54606962]

Honestly how is the average person still making their car payments, mortgage payments, buying food, etc? Anybody have interesting anecdotes? As far as I can tell people are living just like they were before but every bit of data I can find suggests people are underwater and getting fucked.

[Anonymous No.54607247]

>>54606962
who cares

[Anonymous No.54608370]

>>54606962
Zero money left for saving, credit card debt will be slowly increasing.

[Anonymous No.54608432]

>>54606962
I don't know anon, I don't understand how my co-workers afford the shit they do making the exact same wages as me.

[Anonymous No.54608446]

>>54606962
>Record high credit card debt
>Car repos increasing at fastest rate since 2008

These things take a while play out, but people are clearly struggling.

[Anonymous No.54608482]

>>54606962
2018: $70k/y
2019: $70k/y
2020: $90k/y
2021: $130k/y
2022: $170k/y

2023 looks like it may be $200k/y. I found a very promising job opportunity that I don't expect to have much competition for

[Anonymous No.54608491]

>>54608482
It feels like six figures is fairly common these days for your average peons working in tech or finance.

[Anonymous No.54608503]

>>54606962
the average person saves nothing, at least not beyond what is automatically deducted for something like a 401k
an above average saver will have 3-6 months of expenses in a savings account, but again, everything beyond that is perpetually spent
i once has a girl stop dating me when i told her my after tax savings rate was 70%

[Anonymous No.54608507]

>>54608370
this.
the average person (aka the almost 99%) is now living the subscription model of society and is paying their fees for being alive on a month-to-month basis. miss a day of paid work = credit card debt increases. get ill and need meds = credit card debt increases. have any event happen other than work = credit card debt increases. soon the average person will live like the government and just work to pay off the monthly credit card fees but that will take another two years of misery and then everybody won't own anything but will also be very sad. instead of hoverboards and space exploration (You) will live in a global tranny dystopia of pods and bugs because life is suffering.

[Anonymous No.54608532]

>>54608491
guess how the majority of CEOs of fortune 500 companies selected their undergraduate major? by job security. most of them have engineering undergraduate degrees, but times have changed. the modern equivalent is computer science. quit thinking emotionally like a woman and think strategically about how to get what you want like a man.

[Anonymous No.54608566]

>>54608507
pinching pennies by forgoing starbucks, cancelling netflix, drinking your pee pee, or eating your poo poo isn't the path to wealth. people need to invest in their career and don't make any significantly retarded financial decisions like buying a $90k truck on credit and they'll be alright

[Anonymous No.54608614]

>>54606962
>Honestly how is the average person still making their car payments, mortgage payments, buying food, etc?
That's the problem, they aren't.
The rate of default has been increasing YoY.

[Anonymous No.54608663]

>>54608532
>quit thinking emotionally like a woman and think strategically
i think you're reading too much into what i wrote anon. im just saying that six figures is a pretty common salary for a lot of my colleagues, whereas growing up six figures was typically something that someone in an executive position would be expected to earn.

[Anonymous No.54608680]

>>54608663
i'm talking broadly, not really about you

[Anonymous No.54608718]

>>54606962
One of my friends is poor

>drives alh tdi jetta from like 2002
>rents a basement room in a suburban house
>eats exclusively firehouse subs or kfc
>smokes 2g weed and 20 cigarettes per day
Being poor, evidently, isn't actually as hard as people make out. You just can't have champagne tastes on a beer wallet. I cringe to see households making $3,000/m with 2 financed late model trucks on the driveway of their mortgaged-at-the-top-of-a-bubble cookie cutter suburban shed... Like, bro, you must be fucking scraping by all just to keep up appearences. Must suck. If you're poor, just drive cheap used cars and rent cheap properties. You don't need the liability of debt if you're in a precarious position anyway.

[Anonymous No.54608770]

Normies have always been perpetually in debt, poor, retarded niggercattle.

It's nothing new. They have to be poor and in debt for our society to function, otherwise nobody would stay in shit jobs.

[Anonymous No.54608783]

>>54608718
And your friend could actually make it if he cut the vices (booze, cigs, weed) and cooked healthy/tasty Dave Ramsey tier beans rice chicken meals


You can have a very solid lifestyle on 50k /yr in this country in 99% of zip codes. It’s just most do what you say. Need a new kitchen, oh need a green egg, need to upgrade my car, need a house with 2 guest bedrooms that will get used maybe three weekends of the year tops, etc etc

[Anonymous No.54608811]

>>54608503
>i once has a girl stop dating me when i told her my after tax savings rate was 70%
most would, I didn't even have to say it out loud
they match because I list my job title
they ghost because they see I don't live any richer than them

[Anonymous No.54608828]

My rent is the same price as in 2018 but I'm making significantly more money and collected tens of thousands in unemployment which I dumped into crypto

Yes I live in the shitty rust belt yes it's ugly yes it's full of depressed white trash that commit suicide and blacks that kill each other for sport

But I'm nearly to financial freedom

[Anonymous No.54608838]

>>54608491
yes but the tax brackets haven't moved so you pay more tax on a pretty average job for a less than pretty average living standard

[Anonymous No.54608857]

>>54606962
always be applying to jobs. you will increase your pay quickly. how are you guys struggling?

also is there a vim mode for comments?

like an echo "set -o vi" >> ~/.bashrc equivalent for 4chan?

[Anonymous No.54608878]

>>54606962
The average person is married and are making between $70-$120k per year. So $200k+ per year before tax. You're getting fucked hard if you're a bachelor making less than $100k nowadays.

[Anonymous No.54608891]

>>54606962
Car payments are a bad idea; other than that: Bitcoin.

[Anonymous No.54608908]

>>54608878
my wife stays at home. i'm on hard mode.

[Anonymous No.54608916]

>>54608783
He's one of those construction guys that literally just prefers to live that way, we've all tried to talk him into making better choices but after a certain point, you just have to drop it or you'll look like an asshole.

[Anonymous No.54608933]

I'm having no issues. My salary has beat inflation and I actually keep track of what I buy and I am making about 1% more compared to my expenses than in beginning 2020. Which isn't a lot, but I feel like a lot of people are probably in the same situation and are probably just bitching because they don't actually track their finances and just see number get bigger.

[Anonymous No.54608942]

>>54608933
Worded this a bit retardedly. Basically my expenses went up by like 14.8% and my salary has increased by 16%.

[Anonymous No.54609375]

>>54606962
I whore myself out to old rich women st the country club, it's all I have left. They use me and treat my like a piece of meat, but the hours are good.

[Anonymous No.54609399]

>>54606962
A lot of people work two jobs. You know all those instacart, doordash, and uber drivers? Most of them have full time jobs too.

Also plenty of people are just in debt, or behind on payments.

[Anonymous No.54609409]

>>54608566
>just pull yourself up by the boot straps!
>just eat less and work more bro!
i think you still don't understand where all this is going. work does not make you free. you will work and be a slave.

[Anonymous No.54609460]

>>54606962
My wife and I are in high demand jobs. Our pay has increased over the last couple of years. She just got a contract for + 22% over the next 3 years. I just got +15%. Mortgage locked in at 2% fixed. Cars are paid off. Having a third child in June. The Jews can’t fade me. Nice try though.

[Anonymous No.54609627]

I have no mortgage or car payment. Owning those 2 things makes a huge difference. Also been working my day off sometimes. Salary is pretty decent at 25 an hour slowly goes up to 30 in a few years and I have a pension too. I don't see how people with a mortgage and car payment keep up with finances making a regular wage desu.

[Anonymous No.54609923]

>>54608503
>i once has a girl stop dating me
Lol you've never dated a woman in your life you lying incel.

[Anonymous No.54609942]

>>54606962
Everything you read in the media is fake

[Anonymous No.54610783]

>>54606962
>Honestly how is the average person still making their car payments, mortgage payments, buying food, etc?
Based chads are raking in sweet cash from Airdrops like ARB and APTOS this year. If you wanna join the millionaire's club, you gotta get in on the CHUNK and ZKsync airdrop action while it's still hot. Don't be a pleb and miss out on this free money, desu.

[Anonymous No.54610796]

>>54606962
>Anybody have interesting anecdotes?
We live outside of McAmerica, own our house, keep a strong and tolerant community where we look out for each other.

[Anonymous No.54610865]

>>54609409
There are many paths in the US, it’s still one of the most meritocratic economies in the world. But the vast majority are too dumb/lazy/impatient to exploit them.
Being rich to start out with makes it exponentially easier though. Bevause uhhh youre probably gonna fuck up and have to try again

[Anonymous No.54612811]

>>54608507
what about that there indomitable human spirit?

[Anonymous No.54612831]

No idea, I live with parents, earn an average wage, and still have very little left over at the end of the month.
Would be starving to death after about 3 months on my own if I had to pay a (((mortgage))) or (((rent))).

[Anonymous No.54612860]

>>54608432
>I don't understand how my co-workers don't throw away their money on shitcoins, Ponzi schemes, and providing exit liquidity like I do

[Anonymous No.54614403]

>>54612831
stop buying bing bing wahoo and takeaway slop

[Anonymous No.54614887]

>>54606962
something has to give, with consumers eventually getting fed up and not paying high prices anymore leading up to a recession as consumer spending goes down

[Anonymous No.54614942]

>>54610783
You have to sybil tho, as a regular user I 'only' got 7k on 2 wallets in total. I'm gonna drop at least 5k on sybiling zk and pray for 6 figs. It's literally my biggest hopium for the next year

[Anonymous No.54615075]

Hobo anon with today's financial advice:

Live in the woods and work any job while buying crypto
>>but that's insane anon!
Once you cut out car/rent payments you'll realize how easy it is to eat healthy and save money

Now you know, and knowing is half the battle!

[Anonymous No.54615234]

>>54612831
Living at home as long as possible is the meta. Save and invest 80% of your income into a split between your TFSA/401k and Crypto.
The 20% you can spend on whatever you want. Just stop wasting your money on vices.

[Anonymous No.54615743]

Bump

[Anonymous No.54615784]

>>54610865
TYPICAL BOOMER
out of touch with reality
day of the pillow is neigh you greedy cocksucker

[Anonymous No.54615871]

>>54615075
I prefer owning a vehicle outright and renting a home from family so I don't get turbo fugged and the money goes to people I don't hate instead, but yeah, just generally not living solely on credit and having to pay for everything on a monthly basis is the real secret to financial success and freedom. Anyone that hasn't already nuked themselves could buy a trailer and a motorcycle and still make it pretty hard at barely above minimum wage long enough to buy a decent used vehicle and keep stacking investments until they can cash out for a house. Unfortunately, most people live well beyond their means and have a fat mortgage payment on a variable rate while trying to pay off a newer vehicle on a 6-10 year note they never pay a cent over minimum into principal on, which is why the next crash will probably outright kill 50-100k people in deaths of despair in the US if not more.

[Anonymous No.54616983]

everything defaults september-december, hyperinflation after that
stack cash then buy the dip

[Jealous No.54617009]

>>54616983
hope

[Anonymous No.54617032]

>>54606962
The system adjusts itself, duh. Are you seriously that dense? Do you really need to have it broken down for you? Fucking hell.

[Anonymous No.54617088]

I don't get it either OP. Apparently everyone is using credit but when I ask my friends and family they all seem to just be chugging along the same. Are they lying or are they are all statistical outliers?

I know I'm OK so far but I am worried about buyuing a replacement car when I need one. I would likely have to liquidate a stock or crypto to pay for it.

[Anonymous No.54617121]

>>54617088
don't buy a car yet wait for the auto loan market to crash then pay cash

[Anonymous No.54617148]

>>54606962
my sister and brother in law make $120k household income. they have a $300k house, two new vehicles, two motorcycles, and 3 kids who get a ton of toys and other shit. i assume they're debtmaxxed to their eyeballs.

by comparison, i make $100k by myself and am waiting another year to buy a $180-200k house. i have no kids and drive a 7 year old economy car with 75k miles.

[Anonymous No.54617453]

>>54606962
I unironically have no clue
Most of these spics have to pay for everything in Cash too

I see a lot more homeless people but there should be WAY more of them relative to prices

Housing alone in any major city is 3k a month now

[Anonymous No.54618238]

>>54606962
I spend absolutely no money on myself, all if it goes to the wife and kids. Whatever clothes or gadgets I have, that's what I've been using for 9 years

[Anonymous No.54618742]

Everyone in my boomer town of state workers and retirement ville drives a brand new car. No one works. It’s like a fountain of money coming from the state and pensions. I’m a cockroach just trying to make a buck off of their cheap furniture. I drive a shit box and can’t even afford a truck for what I do.