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Fun facts about America. This might help an immigrant or two.
Median household income: $61,000/yr
After 30% Federal & state income tax: $42,700
Median rent: $18,000/yr
Average car payment: $4572/yr
Average cable/internet bill: $1200/yr
Average cellphone bill: $1200/yr
...
Median household income: $61,000/yr
After 30% Federal & state income tax: $42,700
Median rent: $18,000/yr
Average car payment: $4572/yr
Average cable/internet bill: $1200/yr
Average cellphone bill: $1200/yr
...
Health insurance: $6000/yr
Car insurance: $1800/yr
Food: $7200/yr (assuming you eat cheaper than the low end of USDA estimates for a family of 4 which is $731/month)
Electricity bill: $1320/yr
Other utilities: $600/yr
You are left with $1408/yr or $117/mth for everything else.
Car insurance: $1800/yr
Food: $7200/yr (assuming you eat cheaper than the low end of USDA estimates for a family of 4 which is $731/month)
Electricity bill: $1320/yr
Other utilities: $600/yr
You are left with $1408/yr or $117/mth for everything else.
God forbid you kids in public school need to buy supplies here and there. Or maybe you need to buy clothes and save money in case things go south. God forbid you try to sign up your kids for swimming or have to pay a co-pay on your crappy $6000/yr insurance.
This is why over 40% of Americans cannot come up with $400 if they had to spend on an emergency.
70% have less than $1000 I’m their savings accounts. 34% have $0.
70% have less than $1000 I’m their savings accounts. 34% have $0.
Now, student loans. If you are like an overwhelming majority of Americans, you will owe money for your college education “investment.”
You will owe an average of $29,800 paying $393/mth on average. This is expected to come from your $117/mth after you cover your basics.
You will owe an average of $29,800 paying $393/mth on average. This is expected to come from your $117/mth after you cover your basics.
On average, Americans have $7,697 in credit card debt. Yes, some were irresponsible but many just had to fix their used cars, cover expenses here and there. 11% of Americans feel like they will never be free from credit card debt.
Then you have a culture that blames people for their financial situations. They will tell you to cut out your Starbucks expense and you will retire a millionaire. Or if you only work harder, you will break free of poverty.
13% of Americans are poor. See the definition of poor👇🏿
13% of Americans are poor. See the definition of poor👇🏿
Bottomline: Think about where you might end up when you move to America. American society has many dark corners and it has successfully convinced the inhabitants of these dark corners that it’s the greatest country on earth.
Many so-called middle class Americans are struggling.
Many so-called middle class Americans are struggling.
