How the hell is this possible? Are people that stupid that they don't think that one day they may find themselves out of a job?? I guess so. What's more troubling is that 19% of people making more than $100,000 a year are living payday to payday. What kind of out of your limits living are you doing if $100k a year isn't cutting it? I can understand in a high standard of living area like New York or San Fransisco, but anywhere else, you shouldn't have this problem.
I used to work at an electronics firm YEARS ago and a senior engineer gave me this advice that I'll share with you: "Never live above what unemployment pays". If you have a standard of living that exceeds what a typical unemployment check is, you are in for a rude awakening if you're ever called into an office and laid off.
Typically, unemployment pays approximately 2/3rds of your typical weekly paycheck up to a limit of around $500 a week. Of course, it varies from state to state, but that's pretty typical. If you can't live on $500 a week, you need to get rid of that expensive car, move to a smaller place, or cut back on your daily $4 latte.
My wife and I personally do pretty well for ourselves. We don't live above what unemployment pays and since she now makes more then I do thanks to her Master's degree, it's very unlikely that we'd both find ourselves without a job. If that were to happen, we'd be fine. Sure we might have to cut back on eating out a few times a week, but nothing drastic. We won't lose our house, our cars, or anything of that nature. Take a good, hard look at yourself and your finances and create a "plan B" and you'll sleep a lot better at night.
Travis
travis@rightwinglunatic.com
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