It seems to me that even though I've been working harder with more hours, my disposible income is becoming tighter. Does this seem to be the trend for anyone else? What can we do about it?
2007-01-14 14:59:59 · 6 answers · asked by civicsound 3 in Business & Finance ➔ Personal Finance
According to many calculations the last year wages kept up with prices was 1962. We have been losing ground ever since...I mean working class people. The average person who bought a home in 1950 making common labor wage of $1 per hour would have to make $80 to $100 per hour today to afford the same house. My father made $50 per week in 1955 as a bank teller and bought a decent 2 bedroom house for $1,500. They pay bank tellers $9 per hour today, or $360 per week, BEFORE taxes. You can barely afford a trailer now on those wages, unless you want to load up on a tragic 30-year balloon mortgage. So we are losing our standard of living more every year. The only ones doing great are speculators and kids who inherited their parents' property, which went up from a few thousand in the 1950s to hundreds of thousands today. This will never happen again...matter of fact a lot of people who bought these $300K houses a couple years ago are seeing them drop off, and wondering how they will pay the mortgage.
2007-01-14 15:19:14 · answer #1 · answered by Paul 3 · 0⤊ 0⤋
In sales so, I have more control than most. I work more and am able to increase my income. Most of my friends that are in salary jobs are really stuggling. Especially when they have children.
Only thing to do is take risks to get ahead. Get more education and be agressive in asking for a raise or apply for higher paying jobs. Try a part time sales job on the side for extra cash and it could eventually grow into a full time career.
Also - PRAY!
2007-01-14 23:09:32 · answer #2 · answered by kiki 4 · 0⤊ 0⤋
Yes everything is going up in price and we're not making much more than we did 10 or 20 years ago. I hear stories from my mother about how when she started working she was making about what I make now (a few dollars less maybe) and she could afford medical insurance, a car, and a mobile home and still have extra money. I'm working my butt off and although i'm single and living with others I can't afford even a car for myself much less car insurance. It's really tough.
2007-01-14 23:08:10 · answer #3 · answered by Jamie R 2 · 0⤊ 0⤋
It seems like every time I get a new job, my pay decreases. I've been working part time jobs that went from $8.50/hr to $8 to now $7.50/hr. So no, my income is not adjusting with inflation unfortunately.
2007-01-14 23:09:13 · answer #4 · answered by Amber 2 · 0⤊ 0⤋
No, my income is not keeping up to inflation.
I barely get a 3% raise each year!
Money is tight and very tough to live.
2007-01-14 23:34:58 · answer #5 · answered by traderb550 3 · 0⤊ 0⤋
no, my income is not keeping up with inflation.you almost have to have two jobs to make it anymore
2007-01-14 23:05:29 · answer #6 · answered by Anonymous · 0⤊ 0⤋