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I've seen studies that suggest that, if minimum wage had kept up with increases of productivity OR with the cost of living, we would be well over $15 an hour, probably closer to $20 an hour.
Productivity continues to grow, prices continue to go up, but wages, even on the higher end, just don't grow fast enough.
Years ago, before everything went crazy (around 2018 or 2019), I was in DFW, and all I heard was that, to live in Dallas city, you pretty much needed six figures. Rent is perhaps the worse, and just out of control.
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Exactly—wages haven’t kept pace with productivity or living costs, and housing really makes it brutal in cities like Dallas.
It has been that way forever. When you’re. Young and have a little family that’s the way it is. There is a country song back in the 90’s that says, “Too much month at the end of the money”. Keep working, keep saving as much as you can and when you retire it will be better, but even at that there still may be “Too much month at the end of the money”. Hopefully not, but spend and save wisely.
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Yeah, that saying still hits—planning helps, but some months just stretch every dollar thinner than we’d like.
All true ,,for a period of my life I was making about 10 grands a month,,and I managed to spend it every month..another period of my life I only made 2 grands a month..guess what, I also managed to spend it ..but I had to do lots of adjustments.moved to smaller house,. ..got rid of the extra car..and traveled less,,no cable TV anymore nor extra services...so people that makes more are not really rich,they'reonly brokeat a higher levelandprobablypay higher taxes..also living from check to check, .sad
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Exactly—making more doesn’t automatically mean you’re ahead; it just shifts the challenges and expenses.