Paycheck-to-Paycheck? Here’s Your Guide to Financial Freedom
Listen up, America: you have a savings problem. Nearly half of the country is living paycheck-to-paycheck, and that’s not a BS straw-man argument I just pulled out of my ass. According to the Motley Fool, 47% of Americans cannot currently handle an unexpected $500 emergency without going into debt.
Believe it or not, this is actually an improvement. Prior to the world stopping in 2020 due to the pandemic, Americans were in a much worse position when it came to saving money. According to TIME, the average savings rate for the average apple pie-loving, KFC eating American was 12.7% in March of 2020. April of 2021? That number skyrocketed to 32.7%, which is great!
However, these people didn’t make that trend a full-on habit. Savings rates crashed back down as the country opened back up, thanks to pent-up demand for going out to eat, traveling as much as possible and spending money buying that girl at the bar shots that won’t sleep with you dude just stop.
So how do we get back to the sky-high savings rates experienced during the pandemic, while also being able to enjoy life? Believe it or not, people have been doing this for hundreds of years, and you can too! Here’s the game plan.