It's gotta be a low number, right?
Thank you to Jenny Trieu for the last question of the day for the 2021-22 school year! We will be back in mid-August and hope you have a great summer!
Answer: 36%
Questions:
- Why do you think that someone earning such a high salary is still struggling to save any money?
- You are brought in to provide financial advice to someone earning $250,000 who is living paycheck to paycheck.
- You want to help them and can ask them only two questions. What would you ask?
- Your friend says the key to financial security is having a high salary. Do you agree or disagree?
Click here for theready-to-go slidesfor thisQuestion of the Daythat you can use in your classroom.
Behind the numbers (Pymts.com):
Consumers in the highest income brackets are not immune to these trends. In April 2022, 36% of consumers earning $250,000 or more annually lived paycheck to paycheck, as did those earning between $200,000 and $250,000 per year.
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One of teacher faves in the budgeting category: Budgeting with Roommates.
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Get your summer off to a great start and attend the NGPF Virtual Conference on Saturday, June 25th.
About the Author
Tim Ranzetta
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
