Economy Why are Americans so bad with handling money?

[AtomicPanther]

Too many younger people live by the "perception is reality" rule. It's scary how many people in their 60s, don't even have $100k saved for retirement. And now people think they shouldn't have to work at all. The future doesn't look bright.

 

[Kowboy On Sherdog]

 

[cooks1]

A lot of things that bother me is that a LOT of people nowadays are using DoorDash and UberEats to get their food. They don't cook at home anymore. That's a lot of money to spend on food. A SHIT TON of money. That can be THOUSANDS of dollars every month.

And people buying new cars when they havent even paid off their current car. They have a car payment their ENTIRE lives. If they put that money into their 401k, they'd actually have a retirement when they get old.

That is bizarre. There is a guy in the office building I work in who uses uber eats MdDonalds 3 times a week minimum. And he does not make a lot. $30 bucks a pop x3 has gotta be 20% of his take home. He whines about money constantly and I've told him he'd got $400 a month minimum in his pocket if he starts bringingf his lunches in. He thinks I'm an idiot. Just crazy.

 

[SandisLL]

That's true but a credit card is anywhere from 500 to 6k for most people on their first one. If they can't pay it back then that's on them but most of the thread is talking about random scenarios about people borrowing for a ferrari or a merc or something else outlandish.

The stuff about credit card isn't just cos you don't have money in pocket to pay this sum. Some services and hotels demands to provide this or to have legit checkook ....

While ofc I agree that before to purchase anything you should think twice if you already have this money in your pocket...
If you have to borrow money then definitely should spent at least 3 days to calculate and think...before decision.