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Are you financially better off than you were this time last year?

17 Comments
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17 Comments
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Just personally, short to medium term. Not long term - working on that though.

Increased consumption tax from 5 to 8% should have been done better (in real terms just a 2.8% or something increase) . But all the hype, and the new current practice of separating the tax exclusive from the tax inclusive cost, doesn't help.

2 ( +2 / -0 )

At the time that I voted the dispersion was 29% 37% and 33%. If those numbers hold about where they are then I would suggest that their relative closeness indicates that the economy isn't any different. With those kind of numbers it seems to me that personal choice and performance would have played a higher role in financial matters than changes in the economy.

1 ( +2 / -1 )

Compared to this time last year, I'm only slightly worse off. Prices have risen a few percentage points, and the yen has fallen by about 3-5%.

The real question is how people are doing compared to December 2012, before Abe was elected. Only super-connected elites and people running export businesses would vote "yes" and about 90% of the population would vote "no". Not that the LDP gives a fig.

2 ( +3 / -1 )

My tool and die business is doing very well here in Miyazaki. The Mrs and I are putting the child in private school this year. Moving into a new house Jan 15. If you want to do well then find a way to work for yourself using the skills you have or learn new skills.

4 ( +5 / -2 )

Way to be positive, @kyushubill. Far too many people expect to do better each year without putting in the effort.

0 ( +3 / -3 )

Well, I was doing somewhat better when I got my miniscule raise. Then my Health Insurance went up $33 USD, then my Public Transit Pass went up $20 USD, and finally my rent went up $20 USD. So my raise pretty much just lined everybody else's pockets. All this happened this month alone to start my new year off with a $73 USD a month increase in necessary expenses for living. I'm not too keen on having a raise if I'm not going to see any of it.

I can simply work for a better paying pharmacy, which I have seen job offers around. But I already estimated my budget and as soon as I get that better paying job. The majority of the increase in pay I'd get will automatically go into the drastically increased rental prices I've been seeing and the wonderful "Affordable" healthcare act. . I'd be earning about $1,300 USD more, which already $1,300 of that would not go to me paying off my student loan a hell of a lot faster.

Being financially better off pretty much depends on your cost of living expenses, especially the really necessary parts.

1 ( +2 / -1 )

I am still only worth about $600,000. Sad

-6 ( +2 / -8 )

Far too many people expect to do better each year without putting in the effort.

And far too many politicians expect the people to put in more effort each year without ending up in a better position. Look at @HonestDictator's situation: he works harder and gets a raise, and the proceeds of that extra work is siphoned away by the establishment, leaving him no better off than he had been. I think the people who expect to do better without more effort are outnumbered by the people who do put in steadily more effort just to keep from losing ground.

3 ( +3 / -0 )

Due to inflation and the general cost of inflation, my real buying-power has dropped over 5% this year over last year.

Adjusted for inflation, I'm making less now (in terms of buying power) than I was 10 years ago.

It just doesn't pay to go to work these days. Well, at least it doesn't pay well.

3 ( +4 / -1 )

Sure, I have more equities year over year, but that's probably due to my strict "spend after save" habit. My spending "power" probably stays the same.

2 ( +2 / -0 )

@shonanbb, it is boorish to brag about your wealth.

8 ( +9 / -1 )

Yes, I am.

1 ( +1 / -0 )

Lets see here:

I added nearly $21,000 dollars to my Roth 401K this year(includes company match) I paid nearly $2,000 dollars in principle on my mortgage. I also added an additional $12,000 dollars to my liquid savings account. I'm looking at a tax return/refund of between $6,000-$6,600 dollars for the 2015 year.

Oh did I also mention that I grossed over $13,300 dollars in overtime this year and I was promoted for the second time in four years....

-1 ( +2 / -3 )

Sperry

I'm curious about what kind of work you do. I'm old-fashioned. I think everyone should have the chance to make a decent living. I think one of the greatest challenges today is structuring our economies -- our economic growth -- in such a way that this is possible. Sadly, this does not seem to be happening. Growth has for quite some some benefited some, kept many stagnate, and kept most at the bottom.

So, if you don't mind me asking, what kind of work do you do?

0 ( +0 / -0 )

My educated guess is that most people would say they are financially worse off now then they were a year ago. Just more than a third would say their financial situation has improved from a year age while about fifty-five percent would say the past year was financially bad. However you can always improve financially by taking a good look at your financial situation and creating or updating your budget. Always plan for unexpected cost and commit to paying down debt. In the end use cash not credit and be sure to save.

2 ( +2 / -0 )

Had a real bad year on the stock market, so voted no. Got caught by oil and commodities. Expect it to rectify in 2016 though.

1 ( +1 / -0 )

Got a job last summer, vs no job this time last year.

1 ( +1 / -0 )

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