…
Ms Ellis works full-time as a nurse’s assistant and has a second part-time job.
But she needs to economise. She has switched stores, cut out brand-name items like Dove soap and Stroehmann bread, and all but said goodbye to her favourite Chick-fil-A sandwich.
Still, Ms Ellis has sometimes turned to risky payday loans (short-term borrowing with high interest rates) as she grapples with grocery prices that have surged 25% since Mr Biden entered office in January 2021.
“Prior to inflation,” she says, “I didn’t have any debt, I didn’t have any credit cards, never applied for like a payday loan or any of those things. But since inflation, I needed to do all those things…I’ve had to downgrade my life completely.”
The leap in grocery prices has outpaced the historic 20% rise in living costs that followed the pandemic, squeezing households around the country and fuelling widespread economic and political discontent.
Because the military is mostly young guys with no financial literacy who are suddenly handed more money than they know what to deal with. It’s just the extreme scenario of the average American. (Maybe your average person, or even your average animal, but I don’t know enough to say.)
who are suddenly handed more money than they know what to deal with.
Lol…
The military doesn’t pay that well. It’s just a steady paycheck.
The signup bonuses can be pretty large depending on your placement exam.
When I was a young dumb 18 year old that wanted to be a doctor, I thought the army would be a good way to do that debt free.
They offered me something like 25 grand if I signed up that day.
That’sa lot of cash for an 18 year old.
25k for enlisted is insane…
When I was in, they didn’t even give that much to nuclear engineers to do 6 years…
Was it like Sept 15th 2001 or something when you signed up?
