Why Even High Earners Are Living Paycheck To PaycheckAbout 14% of all Americans make $200,000 or more every year, according to the U.S. Census. But many of them, dubbed “HENRYs,” or High Earners, Not Rich Yet, still don’t feel rich. More than 60% of people with salaries over $300k a year struggle with credit card debt. These figures could be signs of the inescapable nature of lifestyle creep, which is the phenomenon of unconsciously spending more as a person earns more. Watch the video above to learn how those spending habits can leave even high earners feeling like they’re on a never-ending hamster wheel.
Friday, July 25, 2025
Many Rich People are in Debt
Would you be rich if your income doubled? No, according to this, you will probably never be rich,
no matter much money you make.
Subscribe to:
Post Comments (Atom)
1 comment:
Prices are as high as they are because of the wonders of modern finance. When your entire economy is based on a very sketchy idea where what you can borrow is what determines prices, the feedback mechanism which corrects pricing by setting it to move alongside earnings according to what people actually actually can produce is entirely side stepped.
Hardly anyone wants to discuss the economic long term consequences of having so much of the world's income burn up in paying interest for things that shouldn't have been so expensive to begin with. Because people now use credit to pretty much pay for everything, this in turn causes tremendous price inflation while consuming every more income in paying interest alongside high prices. In this spiraling economic model, poor economic decisions and compulsive purchases become the encouraged norm and frugal financial habits are penalized.
Post a Comment