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It doesn’t take a financial genius to notice that the column above totals more than 100%. The American savings rate now hovers around 0%; if you’ve got credit card debt, you’re looking at a negative balance. Families with young children have it especially tough, typically spending more on day care for one infant than on the household’s food. According to the NACCRRA, families with two children can easily spend more on day care than on their rent or mortgage. And because the price of child care is rising twice as fast as inflation, those figures aren’t going to improve anytime soon. The good news is that you don’t have to feel bad for not accepting that job offer out-of-state. Things are rough all over.
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Charles
Fri, Mar 07, at 05:46am
I find it amusing, if not scary, that you write under your recommended percentages, "To keep debt under control, try borrowing...." when you recommend a household spend more than they earn (uh doesn't that mean debt accumulation?!). So as a publication, you find it responsible for a household to a) spend more than they earn and b) not save a nickel while simultaneously telling them to 'control debt'? This could be the most laughably irresponsible financial advice column I've ever read.
