Kansas Crimson

IllinoisJayhawk wrote: ↑Tue Jun 16, 2020 10:51 am

twocoach wrote: ↑Tue Jun 16, 2020 10:38 am

IllinoisJayhawk wrote: ↑Tue Jun 16, 2020 9:51 am

You do realize that is literally almost impossible for a large portion of our population, right?

Spoken like a middle or upper middle class white man for sure.

I know you mean well, and I agree with you in theory on a lot of things, but sometimes it is very apparent that you are from a mostly white and probably mostly middle class area. I know you try to see things from others perspective on some/many issues, but inner city low income minorities/low income people in general of any race and poor rural individuals just don't have the ability to have 6 months of all living expenses in savings. Hell, a large portion of our country doesn't even have ANY retirement savings. It is hard for anyone to relate completely to others, so I am not trying to be critical, but that comment about savings was a little tone deaf and unrealistic for a large portion of our country that don't look like you (physically and financially).

And tbh, I certainly don't have 6 months of expenses in savings...granted I've got credit I can use and I've got retirement/investments accounts I could steal from (some with penalty of course) if it truly came to that to feed my family, but that is simply not reality for many people.

Bullshit.

It's not impossible at all. I lived for years off shitty tips at the restaurants I worked at and managed to save money despite making shit money.

Once we moved past near paycheck to paycheck living, my wife and I continued to make sacrifices to save for exactly these types of events. We chose to put money towards two extra house payments a year and now we have no mortgage to worry about.
You just have to make the sacrifices necessary to live within your means. THAT is what people seem to find "impossible". I could hundreds of dollars a month in bullshit unnecessary expenses out of virtually everyone's lives.

The only scenarios that makes it impossible is having kids you cannot afford or an unplanned accident or medical expense.

We will just have to agree to disagree.

I work in real estate so I see what land lords charge for rent in low income areas. There are statistics that show what various incomes are in certain areas. It is simple math that for many it is impossible to have 6months of all living expenses saved up...now, I am not saying that is "right", I am just pointing out reality.

Its also reality that many people have kids "they can't afford" by your standards...like 25%+ of the population would be my conservative estimate...again, not saying that is "right", but it is reality.

Unplanned accidents and unplanned medical expenses are also reality... and the segment of the population we are referencing are likely the same segment of the population who don't have access to affordable Healthcare.

Just something to think about. Your lived experiences are "everyone's" experiences or reality. Some people don't have the luxury or ability to do what you've done. You are a 2 income household. Both with college degrees I am assuming. Both likely from 2 parent households. Who likely didn't have children before marriage. Statistics show that isn't reality for many of the people who don't have 6 months of all living expenses in savings.

You'd probably be shocked at how many people don't even have a checking account....or how many kids don't know where there next meal will come from at various points throughout the year.

You're sort of inadvertently doing the old "pull yourself up by the bootstraps" thing that Republicans get slammed for....it just isn't reality for a segment of our populatation as far as 6 months of expenses in a savings account unfortunately.

Grandma wrote: ↑Tue Jun 16, 2020 4:54 pm

CrimsonNBlue wrote: ↑Tue Jun 16, 2020 4:49 pm Ok, so who's walrus?

Seems like it's....

twocoach wrote: ↑Tue Jun 16, 2020 7:36 pm

IllinoisJayhawk wrote: ↑Tue Jun 16, 2020 10:51 am

twocoach wrote: ↑Tue Jun 16, 2020 10:38 am
Bullshit.

It's not impossible at all. I lived for years off shitty tips at the restaurants I worked at and managed to save money despite making shit money.

Once we moved past near paycheck to paycheck living, my wife and I continued to make sacrifices to save for exactly these types of events. We chose to put money towards two extra house payments a year and now we have no mortgage to worry about.
You just have to make the sacrifices necessary to live within your means. THAT is what people seem to find "impossible". I could hundreds of dollars a month in bullshit unnecessary expenses out of virtually everyone's lives.

The only scenarios that makes it impossible is having kids you cannot afford or an unplanned accident or medical expense.

We will just have to agree to disagree.

I work in real estate so I see what land lords charge for rent in low income areas. There are statistics that show what various incomes are in certain areas. It is simple math that for many it is impossible to have 6months of all living expenses saved up...now, I am not saying that is "right", I am just pointing out reality.

Its also reality that many people have kids "they can't afford" by your standards...like 25%+ of the population would be my conservative estimate...again, not saying that is "right", but it is reality.

Unplanned accidents and unplanned medical expenses are also reality... and the segment of the population we are referencing are likely the same segment of the population who don't have access to affordable Healthcare.

Just something to think about. Your lived experiences are "everyone's" experiences or reality. Some people don't have the luxury or ability to do what you've done. You are a 2 income household. Both with college degrees I am assuming. Both likely from 2 parent households. Who likely didn't have children before marriage. Statistics show that isn't reality for many of the people who don't have 6 months of all living expenses in savings.

You'd probably be shocked at how many people don't even have a checking account....or how many kids don't know where there next meal will come from at various points throughout the year.

You're sort of inadvertently doing the old "pull yourself up by the bootstraps" thing that Republicans get slammed for....it just isn't reality for a segment of our populatation as far as 6 months of expenses in a savings account unfortunately.

Enlighten me as to your guess to the percentage of the US that doesn't have a checking account.

TDub wrote: ↑Tue Jun 16, 2020 7:58 pm You should try google sometime. Its pretty handy, you may even be able to google techniques for taking your head out of your ass

TDub wrote: ↑Tue Jun 16, 2020 7:58 pm You should try google sometime. Its pretty handy, you may even be able to google techniques for taking your head out of your ass

IllinoisJayhawk wrote: ↑Tue Jun 16, 2020 8:57 pm My terminology was incorrect as far an unbanked and/or underbanked household... which threw my guess a little off from what I remember seeing.

He might also want do some research on how there is bank scarcity in poor areas and the ways that can/does negatively impacts those neighborhoods/areas...thats why they have this thing called the Community Reinvestment Act (iirc) which banks have to monitor and report to the FDIC showing they are not redlining certain areas and/or races. If they are lending to a disproportionate % of non-minorities in their area they can get in trouble, especially if they are denying credit opportunities to minorities with similar or superior credit characteristics.

https://www.fdic.gov/householdsurvey/

That's the actual fdic link.

IllinoisJayhawk wrote: ↑Tue Jun 16, 2020 8:54 pm I haven't clicked your links yet...

I'm going to guess 23% don't have a checking account or savings account... if they break it out by race I'd guess African Americans % is significantly higher than white Americans %...

Now I will click the links....

twocoach wrote: ↑Wed Jun 17, 2020 7:18 am

IllinoisJayhawk wrote: ↑Tue Jun 16, 2020 8:54 pm I haven't clicked your links yet...

I'm going to guess 23% don't have a checking account or savings account... if they break it out by race I'd guess African Americans % is significantly higher than white Americans %...

Now I will click the links....

You said a checking account. Thats dramatically different. You can get by without a savings account way easier.

Grandma wrote: ↑Wed Jun 17, 2020 7:24 am Here is something for Illini and twocoach to ponder.
How many Americans live in "poverty"? How many Americans have a bank account (savings and/or checking)?

IllinoisJayhawk wrote: ↑Wed Jun 17, 2020 7:35 am

twocoach wrote: ↑Wed Jun 17, 2020 7:18 am

IllinoisJayhawk wrote: ↑Tue Jun 16, 2020 8:54 pm I haven't clicked your links yet...

I'm going to guess 23% don't have a checking account or savings account... if they break it out by race I'd guess African Americans % is significantly higher than white Americans %...

Now I will click the links....

You said a checking account. Thats dramatically different. You can get by without a savings account way easier.

Arguing to argue. I'll take a pass today.

Stats were provided to debunk your original statement that "most people are capable of having 6months of financial reserves"....you've now regurgitated 2 of those stats as your own thinking you're proving your point. Read the links we provided if you want. Or don't. I was only trying to provide some perspective that just because your personal anecdotal evidence leads you to believe that because you saved enough to not have a mortgage and have 6 months resrves doesn't mean that's a reality for everyone else. Remember, you were blaming the poor people who don't have financial reserves for rushing to open. My anecdotal evidence in my area has lead me to believe that for every poor person rushing to get back to work there is also a rich business owner rushing to get their business back open so they can keep making money. It isn't just the people "without 6 months of financial reserves" rushing to open.

The 7% of people without checking accounts at all, plus the other 16-18% or so who are "underbanked", plus the % of people who have NO reserves at all, plus the % of people who barely have ANY retirement savings, was ONLY provided to help show you that YOUR reality unfortunately isn't reality for many other people.

IllinoisJayhawk wrote: ↑Wed Jun 17, 2020 7:36 am

Grandma wrote: ↑Wed Jun 17, 2020 7:24 am Here is something for Illini and twocoach to ponder.
How many Americans live in "poverty"? How many Americans have a bank account (savings and/or checking)?

more in poverty for sure.

....but those people should be capable of having 6 months of reserves so they don't "rush to reopen" because twocoach doesn't have a mortgage and has 6 months of financial reserves, and that proves its possible for everyone.

twocoach wrote: ↑Wed Jun 17, 2020 7:48 am Perhaps you and I suffer from the same affliction. "Most people are capable of having 6months of financial reserves" is not a statement that I have made at all, let alone a direct quote. So obviously my efforts to be brief have resulted in my not being clear.

There are a number of folks in this country who are perfectly capable of saving more that the zero that they have. That 45% of our nation has zero savings should be shocking. 45% of our country should not be that close to financial disaster.

twocoach wrote: ↑Tue Jun 16, 2020 9:48 am Oh, and if everyone had actually done what fimancial advisors have been telling us to do forever (keep at least 6 months of your full household expenses in savings) then more folks would be able to be patient and let this thing run its course.

But instead some folks choose year upgrades to the latest iPhone, seventeen different streaming services they dont use, a gym membership they don't use, too much car, too much house, too much eating out, the list is endless.

And when they missed their second paycheck, they were totally fucked. Panic over money causes people to do stupid shit, like protest for the right to subject yourself to a deadly virus as soon as possible.

twocoach wrote: ↑Tue Jun 16, 2020 10:38 am Bullshit.

It's not impossible at all. I lived for years off shitty tips at the restaurants I worked at and managed to save money despite making shit money.

Once we moved past near paycheck to paycheck living, my wife and I continued to make sacrifices to save for exactly these types of events. We chose to put money towards two extra house payments a year and now we have no mortgage to worry about.
You just have to make the sacrifices necessary to live within your means. THAT is what people seem to find "impossible". I could hundreds of dollars a month in bullshit unnecessary expenses out of virtually everyone's lives.

The only scenarios that makes it impossible is having kids you cannot afford or an unplanned accident or medical expense.

TDub wrote: ↑Wed Jun 17, 2020 7:56 am There it is again. If theyd just be more like me.



I dont disagree with you that mich money is wasted....but I disagree with your approach and your original premise. Also, as i have been told over and over again, wasted to me is not wasted to everyone.