-video of young car wreck guy-
When I do street interviews I always seem to meet people who are in surprisingly adverse situations. The young guy in this video just wrecked his car while he was on a slight drug binge. It costs almost $1000 for the car to be fixed but he doesn’t have the money so until he gets it he’s hitching rides from friends. I assume that most of this blog’s readers are drug free and so are not prone to car accidents. But we have to realize that most of us have had at least one car accident some time in our lives. And like the young man in the video, many don’t have reserve cash. According to a recent survey:
• 53% of Americans don’t have a minimum 3 day supply of non-perishable food and water.
• 33% of Americans have so much debt that’s it’s in collections.
• 62% of all Americans are living paycheck to paycheck.
As I have said before in this blog, consolidating your debt goes a long way so daily living expenses and emergencies won’t be as financially traumatic. One thing that sticks out in this video is that the young man had a job lined up and so he wasn’t as stressed as we would expect. Soon he’ll be able to afford the car repairs and then life will become normal again. So maybe it can be said that career planning should have a higher priority than saving and preparation. A constant influx of money can cover a multitude of woes.