😳American’s Say They Need $186,000/yr to “Feel Comfortable” In This Economy | Cost of Living Crisis

The average American income is $60,000, but the average American says they need $186,000 to “feel comfortable.” Do we really NEED this much to live comfortably? Or are our expectations too high?

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Chapters
0:00 - $187,000 just to "feel comfortable?"
1:27 - Lifestyle Inflation
4:14 - Job Are Not Secure
6:13 - So Many Things to Buy!
9:40 - No Longer Affordable

[raisingwildflowers]

What is YOUR "comfort number?" How much money would you need to make a year to be able to live comfortably today?

[churchofpos]

"Comfortable" has a wide definition. I am mortgage and debt free. cars paid off. Credit Card is for emergency use only. I have a frugal lifestyle. I downsized my home, moved 2500 to a low cost state, and walked away from a well paying job. Now work in a low paying job, but am much happier. I have a roof over my head, clothes to wear, and food in my belly. I do a lot of free / low cost activities with my spare time now.
I am content.

[starworks]

I’m 69 years old and retired. I’ve worked since I was 14 years old. Trust me employers have never cared about their employees.

[iamtmckendry]

No debt,
A large garden,
Clean water,
Access to a toolshed,
Energy production systems.

Income could be way under 60k. With access to food/water/energy/tools.. I'd be okay living off a few months of a modest hourly wage.

I think the real issue is how we perceive wealth.

[carolined]

I became extreme frugal out of necessity and now I'm used to this livestyle and it gives financial rest and beeing more rooted.

[maddex]

Our family of 3 live on $23k a year. Our home and vehicles are paid for and we have no debt.

[jonathanjacques]

Simple, no debt. You really dont need a whole lot of income.

[seekingtheminimumlevel]

We're fortunate to be debt free, and we keep downscaling our lifestyle to not fall behind with inflation because wages do not keep up. When you're already frugal, it becomes more challenging to find ways to cut back. We can't eat out less because we never eat out, and many of the other advice/tips from frugal channels are about cutting things that we have never done. I appreciate your approach to simple living.

[connydijkstra]

I like the look at life and How you explain it. I’am from the Netherlands and there is a measure different in out country, but I feel the same in our country people like to have more stuff, big houses, expansive cars. But it makes them not happier I think. I have a allotment and I like to grow a great deal of mine oun food to store and not to buy. My English is not perfect so I hope you can read it. 😊

[anncromarty]

I easily live off 55k a year, have no debt, have money in savings and investments. I save up for stuff i want and pay cash. But my special spending supports my hobbies and fun. Like a new tent for camping. I cannot understand spending on useless things....like jewelry, multiple tech devices, apps, restaurants, booze, and even home decor is often way over the top. I've had the same couch and furniture for over 20 years. Im not sure some people understand what "needs" really are. I see a lot of justification for why somebody needs what they want.

[marianlinden]

We are retired and very comfortable on about 80k per year. We could be comfortable in this house at about 60k. Less than that would squeeze us. Although we have a modest home, we live in a nice neighborhood and taxes etc are high. As is cost of food. We stay because long-term friendships and the beauty of the area are priceless.

[comeconcon]

I'm living frugally during this inflation.

[nzmoneykarma]

So many “things” to buy!!! And the clever marketing minds that are there to convince you that you’ll not be great without them!

[cjengland]

House and car paid off, credit card paid in full every month and 1 year emergency fund. Took 20 years to get there but it means it takes very little for us to feel comfortable now. Helps that we're not into name brand clothes or the latest tech.

[AuraDawn_Health]

I saw that article too. I live on waaaay less that that and I live comfortably. I'm frugal, don't need much. I live below my means (as opposed to living within my means). It's just a different mindset.

[ldygzlle]

There needs to be a dating app for frugal homesteaders

[eileenclaussen]

Being a person who never ever got close to earning $60, 000 this is crazy - and yes, wants vs needs is a HUGE problem. You can live on way less than you think.

[amydecker]

My wants and needs are few. However, I will drive to the Gulf Coast at least once yearly, attending a specific music festival annually, and seeing certain concerts bring me a lot of happiness, and I will leave mega thrifty in order to save for these events. Keeping up with The Joneses is not even on my radar.

[bucklanders]

Everything you're saying on here is very true. The main thing that I feel good about is that I do not own any credit cards. What little I do own is paid off. I don't owe anybody anything. I am retired, but my retirement barely covers my bills and my monthly living expenses. The saying sticks in my mind that I heard many years ago. People spend money they don't have, to buy things they don't need, to impress people they don't even like. That statement is lived with me for many years.

[lj]

35 seed packets going into the ground next month. Nearly spring here, and getting a solar shower soon, no debt. Saving for a house in cash though, long journey