And these necessities are very often procured from stores that pay their employees minimum wage, so it all comes back to what I was saying… But even for people who get paid way more than minimum wage, a significant proportion is living paycheque to paycheque or close to it.
If you look at my message I’m clearly painting a broad picture, “people are bad at saving money”, I never said it only applied to people with lower income. I’ve known of engineers making 300k/year panicking because 200$ were missing from their paycheque and they wouldn’t be able to make their payments… They just own a bigger house and a Porsche instead of renting an apartment and driving a Civic, in the end they have 0$ set aside and if their income goes up they just find more stuff to purchase…