7/10 Americans are living paycheck to paycheck and the problem is cultural.



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Chapters

00:00 Start Here
01:47 We’re A Culture Without A Historical Identity
03:23 We’re A Culture Composed of Individuals
04:45 We're A Culture With A Broken Family Structure
06:57 We're A Culture Funded By Debt
08:00 We're A Culture That Has No Free Time
09:23 We're A Culture That Is Soft
10:43 We're A Culture That Is Never Satisfied


The United States is often refereed to around the world as the "Land of Opportunity." Despite that, some studies estimate that over 78% of Americans are living paycheck to paycheck. The problem for this might be rooted in American culture and our way of life. In this video, I examine American culture and talk about 7 components of American culture that are making so many people live paycheck to paycheck.

1. We’re A Culture Without A Historical Identity

One problem many Americans face is not having a long standing culture that gives them identity. Since our culture does not have hundreds of years of traditions and beliefs, consumerism has taken over our culture for the sake of corporate profit. Many Americans are living paycheck to paycheck because our culture is overrun by consumerism.

2. We’re A Culture Composed of Individuals

When a culture has a long standing set of traditions and values, it normally creates a communal society where people derive their identity from the community. In the US, however, our culture is centered around consumerism and so people derive their identity from what they own and buy. American culture is very individual focused where a lot of our rights and values are centered around the individual. This causes people to spend a lot of money on material possessions as people are trying to create an identity.

3. We're A Culture With A Broken Family Structure

One economic powerhouse that people underestimate is the value of a strong family structure. There are so many benefits to having a strong family structure like economic support, childcare support, elderly support, and emotional support. In the US, family structures are generally weak, which puts a lot of financial stress on individuals to the point where they can't afford to pay for everything.

4. We're A Culture Funded By Debt

In the US, we have a very comfortable relationship with debt where people will fund their entire lives with debt. This comfortable relationship creates a lot of financial strain on people, which causes them to live paycheck to paycheck.

5. We're A Culture That Has No Free Time

American life is very busy and fast paced where nobody has any free time. The lack of free time makes people spend more money on things like convenience, impulse buying, and justification spending. The increase of spending due to our busy lives causes people to live paycheck to paycheck.

6. We're A Culture That Is Soft

We live very comfortable, luxurious lives in the US, which has created an extremely high cost of living. Despite this increased cost of living, we continue to maintain our standard of living because we don't think we can live without these luxuries, which has caused many people to create lifestyles they can't afford and live paycheck to paycheck.

7. We're A Culture That Is Never Satisfied

In the United States, we are always wanting the next thing whether that's a larger house, a nicer car, or more money. We are never satisfied and we continue to spend all of our money thinking it will make us more content, which causes people to live paycheck to paycheck.

**This video is intended for entertainment purposes only, none of it should be interpreted as financial advice. Links above are affiliate links where if you click and order, I will receive a commission at no cost to you. **