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08-28-2012, 05:51 PM
Hockey Team
Hunger Force
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Join Date: Dec 2009
Location: New York, NY
Country: United States
Posts: 4,553
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If having a family is going to make it so you can't afford to save up any money at all then I don't consider that as being affordable.

Same goes for mortgage/car payments.

The 36% average payout includes people with higher salaries. People making 40K will get 50% in a lot of states. I got < 25% of my salary for unemployment, and so did a lot of other ex-wall street people, so that drops the average quite a bit. Either way, 50% or more is still a significant cut to your cash flow so no point arguing the specifics.

The problem here is people live a lifestyle that uses up 100% (or more) of their paycheck, so it becomes devastating when they lose their job or get a pay cut. Hell, for a lot of people even things like their car breaking down and needing $2K to fix it is devastating. It's nobody's fault but their own for choosing to live that way. One of the first things people do when they get a raise / promotion is start spending more, not pay down debt or start saving money.

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