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The least common cause of living paycheck to paycheck in the survey was an unstable employment situation, with only 10.7% of millennials citing it as the reason for their financial struggles.
Here's what Redditors had to say about the disconcerting trend and the causes of financial hardship. ... Back in 2013, their monthly income of $2,200 allowed them to live a comfortable life ...
We’ve all heard the statistics. More millennials live with their parents than with roommates. We are delaying partner-marrying and house-buying and kid-having for longer than any previous generation. And, according to The Olds, our problems are all our fault: We got the wrong degree. We spend money we don’t have on things we don’t need.
A psychologist has stated that society stigmatizes poverty. Conversely, poor people tend to believe that the wealthy have been lucky or have earned their money through illegal means. She believes that both attitudes need to be discarded if the nation is to make headway in addressing the issue of inequality.
Some believe welfare causes laziness, but many people rely on welfare to live. In fact, many welfare programs have strict limits designed to encourage unemployed individuals to return to paid employment. Time scarcity causes a deadline, causing program recipients to prioritize searching for and securing a new source of employment.
Economic inequality is an umbrella term for a) income inequality or distribution of income (how the total sum of money paid to people is distributed among them), b) wealth inequality or distribution of wealth (how the total sum of wealth owned by people is distributed among the owners), and c) consumption inequality (how the total sum of money spent by people is distributed among the spenders).
Check Out: I’m a Financial Expert — 5 Things Wealthy People Don’t Waste Money On. Financial Secrecy Is Another Trap. According to Franklin, it’s normal for those just starting out making ...
Read Next: 5 Genius Things All Wealthy People Do With Their Money “For those grappling with poverty, ... more problems can occur like leaky faucets and broken windows. These can be really ...