Comment on I'm working on it, ok?

ipkpjersi@lemmy.ml ⁨2⁩ ⁨years⁩ ago

• Landless2029@lemmy.world ⁨2⁩ ⁨years⁩ ago

  True. But the meme is wrong. It’s expenses not income.

  The idea is you should be able to survive without working for 6 months.

  This is to cover losing your job, injuries, illness, family emergencies.

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  • ipkpjersi@lemmy.ml ⁨2⁩ ⁨years⁩ ago

    True. But the meme is wrong. It’s expenses not income.

    The idea is you should be able to survive without working for 6 months.

    Yeah, I get that, that’s why I meant I doubt that more than 25% of people can survive without working for 6 months.

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    • KimjongTOOILL@lemmy.world ⁨2⁩ ⁨years⁩ ago

      56% of Americans don’t have enough to cover a $1000 unexpected bill. So I’d guess less than 5% have 6 months of expenses saved.

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    • Landless2029@lemmy.world ⁨2⁩ ⁨years⁩ ago

      I agree. I think is a mix of people living check to check (no choice) and bad education.

      I came from no money and learned financial planning skills from the internet.

      Now I’m at the point where I got an emergency fund and savings, but it took me years to get here.

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      • ipkpjersi@lemmy.ml ⁨2⁩ ⁨years⁩ ago

        I don’t think it’s fair to blame it on bad education. I’m pretty sure almost everybody is aware that having emergency savings is better than not having emergency savings. The cost of living keeps going up, inflation rate going way up, but salaries are just not increasing enough to keep up. Everything is becoming more expensive and people can’t afford it, let alone having enough money to set aside.

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  • FlyingSquid@lemmy.world ⁨2⁩ ⁨years⁩ ago

    I am 46 years old. I have never had enough to be able to survive without working for 6 months. Thank god for unemployment payments.

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• howrar@lemmy.ca ⁨2⁩ ⁨years⁩ ago

  If you can’t bring the savings side of the equation up, then bring the salary side down. Easy.

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• ryathal@sh.itjust.works ⁨2⁩ ⁨years⁩ ago

  It’s like 50% that can’t afford 1k, let alone 6 months of expenses.

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• Bye@lemmy.world ⁨2⁩ ⁨years⁩ ago

  I did it by living well below my means for my first job.

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  • db2@lemmy.world ⁨2⁩ ⁨years⁩ ago

    That’s all fine but at 16 you don’t really have expenses.

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• then_three_more@lemmy.world ⁨2⁩ ⁨years⁩ ago

  I’d bet less than 5%.

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