What costs double? I track my expenses very closely and have for about a decade and my essentials are up 10% at most, 7% on average. That’s food, transportation, home expenses and cloth. My recreation expenses were actually down or flat.
I’m in a similar situation up here in Canada. Back then I could afford a house at a reasonable distance from town, even at current interest rates and with my significantly lower salary. Now I can maybe look at a small bungalow 1h out or more… if I assume I can keep working remotely indefinitely. Groceries just skyrocketed. Had to move in between, with high interest and low vacancy rates, we had to eat a big rent hike despite us moving way out of town.
The poorest 40% of households suffered an 8% drop in cash savings and the middle 40% (the U.S. middle class) also saw their bank deposits and other liquid assets topple. Only the wealthiest 20% of households are still enjoying the extra cash they stockpiled during the pandemic, with their savings about 8% above where they were in March 2020.
I’m not disbelieving your personal experience, but the article does indeed say it’s the top quintile who benefited.
Well, I currently make more than the average household in my state, solo. So does my gf.
And we can’t afford shit.
So, you tell me? I’m in the top 5% of income in my state. I am doing way worse than I was in 2019. E erything cost double and I dont make double.
What costs double? I track my expenses very closely and have for about a decade and my essentials are up 10% at most, 7% on average. That’s food, transportation, home expenses and cloth. My recreation expenses were actually down or flat.
I’m in a similar situation up here in Canada. Back then I could afford a house at a reasonable distance from town, even at current interest rates and with my significantly lower salary. Now I can maybe look at a small bungalow 1h out or more… if I assume I can keep working remotely indefinitely. Groceries just skyrocketed. Had to move in between, with high interest and low vacancy rates, we had to eat a big rent hike despite us moving way out of town.
From the article, emphasis added:
I’m not disbelieving your personal experience, but the article does indeed say it’s the top quintile who benefited.
The poorest 40% of households have cash savings?
What the fuck are my wife and I doing wrong?