I have seen threads on why we filed, but I wonder if anyone has made a list of changes over the past 30 years that has added to people filing? Some of mine would be:
First off is the decline in incomes in the terms of purchasing power for the middle and lower class per the labor departments own numbers.
Second would be the expenses of todays life. You HAVE to have car insurance and the cost of it did not go down once everyone HAD to have it like the insurance companies promised when they lobbied this thru congress. TV is no longer free for most people. Most people HAVE to have the internet, think that isn't true? Try keeping up with banking, buying, getting discounts, applying for jobs. Many jobs require a cell phone in the case of my hubby his job pays less and he MUST have a cell phone, text messaging, internet access, laptop, and GPS. All items WE pay for at the convienence of the company. These all are items you almost have to have to work now days. Health insurance also tops the bill, your employer use to pay for it as well as a pension for your retirement. Today, they pay part, but you pay a lot too as well as the costs in deducatbles/copays/out of pocket has gone up a lot faster than incomes.
I believe a lot of us got on credit as a way to pay for our cars and homes and furniture because we could not save enough to pay for these items without credit, and every few years the length of time you financed went up like on cars from 3 to 5 years.
Can others add to this list???
First off is the decline in incomes in the terms of purchasing power for the middle and lower class per the labor departments own numbers.
Second would be the expenses of todays life. You HAVE to have car insurance and the cost of it did not go down once everyone HAD to have it like the insurance companies promised when they lobbied this thru congress. TV is no longer free for most people. Most people HAVE to have the internet, think that isn't true? Try keeping up with banking, buying, getting discounts, applying for jobs. Many jobs require a cell phone in the case of my hubby his job pays less and he MUST have a cell phone, text messaging, internet access, laptop, and GPS. All items WE pay for at the convienence of the company. These all are items you almost have to have to work now days. Health insurance also tops the bill, your employer use to pay for it as well as a pension for your retirement. Today, they pay part, but you pay a lot too as well as the costs in deducatbles/copays/out of pocket has gone up a lot faster than incomes.
I believe a lot of us got on credit as a way to pay for our cars and homes and furniture because we could not save enough to pay for these items without credit, and every few years the length of time you financed went up like on cars from 3 to 5 years.
Can others add to this list???
Bankruptcy Wizard
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