Saw this on Reddit but a list of financial pressures facing people today. This is for the US but would apply to almost anywhere. Thoughts? I don't see how this system can continue.
1. Rent. More than half of Americans spend 50% of their income on rent. I know they do in my town. That's take home income. That, is unsustainable.
2. Healthcare. Whether it's insurance premiums, out of pocket costs, deductibles or unplanned ER visits, healthcare is still the leading cause of bankruptcy in the United States. And it's only getting worse.
3. Secondary Education. Americans are asked to be indentured servants just to get a college education so they MAYBE can have a good paying career. And now the rules are changing again in 2026 to make it even less attainable.
4. Childcare. Parents are paying more than rent in a lot places just so they can work, and then spend a large percentage of their income to pay for said childcare. It's a circle of financial futility.
5. Automobiles. A new car now averages $50,000. And a used car less than 5 years old with 50,000 miles is $30,000. And warranties for these cars are $4,000. But wait, we need a good car to operate in America. Yes, most people do. And the average payment is now $700 across all auto loans. Oh yeah, and they'll finance you for 8 years ! For a car. Easily doubling the price with interest after you pay it off. If you do.
6. Shrinkflation. Not inflation. Which is also a cause. But we are paying more than ever for less goods. Groceries, cheaply made electronics and clothing, appliances etc. We get less than we ever have for our dollar.
7. Social Security. We do not properly tax or fund our social security program. For decades now, Congress has ignored shoring up the social security system to ensure qualifying workers have a chance at a decent post-working life. From cost-of-living adjustments to the equation that determines someone's benefit, Congress has spent more time wrecking this program than strengthening it.
8. Wages. Workers now need to earn $100,000/year to break even in this country. That includes expenses, saving for retirement and the ability to take some time off from work and have a vacation. 80% of workers DO NOT earn $100,000.
9. Credit cards. Most people need them to get by. And the laws say credit card companies, which there are only (4) main suppliers of, can charge 20+% and fees that make paying them off ridiculously hard. It's a debt entrapment, and they know it.
1. Rent. More than half of Americans spend 50% of their income on rent. I know they do in my town. That's take home income. That, is unsustainable.
2. Healthcare. Whether it's insurance premiums, out of pocket costs, deductibles or unplanned ER visits, healthcare is still the leading cause of bankruptcy in the United States. And it's only getting worse.
3. Secondary Education. Americans are asked to be indentured servants just to get a college education so they MAYBE can have a good paying career. And now the rules are changing again in 2026 to make it even less attainable.
4. Childcare. Parents are paying more than rent in a lot places just so they can work, and then spend a large percentage of their income to pay for said childcare. It's a circle of financial futility.
5. Automobiles. A new car now averages $50,000. And a used car less than 5 years old with 50,000 miles is $30,000. And warranties for these cars are $4,000. But wait, we need a good car to operate in America. Yes, most people do. And the average payment is now $700 across all auto loans. Oh yeah, and they'll finance you for 8 years ! For a car. Easily doubling the price with interest after you pay it off. If you do.
6. Shrinkflation. Not inflation. Which is also a cause. But we are paying more than ever for less goods. Groceries, cheaply made electronics and clothing, appliances etc. We get less than we ever have for our dollar.
7. Social Security. We do not properly tax or fund our social security program. For decades now, Congress has ignored shoring up the social security system to ensure qualifying workers have a chance at a decent post-working life. From cost-of-living adjustments to the equation that determines someone's benefit, Congress has spent more time wrecking this program than strengthening it.
8. Wages. Workers now need to earn $100,000/year to break even in this country. That includes expenses, saving for retirement and the ability to take some time off from work and have a vacation. 80% of workers DO NOT earn $100,000.
9. Credit cards. Most people need them to get by. And the laws say credit card companies, which there are only (4) main suppliers of, can charge 20+% and fees that make paying them off ridiculously hard. It's a debt entrapment, and they know it.
