#us personal finance

[sataniccapitalist]

‘At 75, I still have to work’: millions of Americans can’t afford to retire

Number of US workers aged 75 and up expected to increase 96.5% over next decade as some say ‘we must work until we die’

[thoughtportal]

Utilities cut power to US customers while taking huge Covid tax credits

Tax bailouts would have paid for debt forgiveness many times over but instead companies left struggling households in the dark

The companies received enough funding to forgive their customers’ debt hundreds of times over, but instead many handed out executive bonuses and increased shareholder dividends: DTE bumped investor payouts from $714m to nearly $800m over the last two years, while its CEO received a $2.3m pay increase in 2020.

[cogitoergofun]

Revealed: millions of Americans can’t afford water as bills rise 80% in a decade

Exclusive: analysis of US cities shows emergency on affordability of running water amid Covid-19 pandemic

Millions of ordinary Americans are facing rising and unaffordable bills for running water, and risk being disconnected or losing their homes if they cannot pay, a landmark Guardian investigation has found.

Exclusive analysis of 12 US cities shows the combined price of water and sewage increased by an average of 80% between 2010 and 2018, with more than two-fifths of residents in some cities living in neighbourhoods with unaffordable bills.

In the first nationwide research of its kind, our findings reveal the painful impact of America’s expanding water poverty crisis as aging infrastructure, environmental clean-ups, changing demographics and the climate emergency fuel exponential price hikes in almost every corner of the country.

America’s growing water affordability crisis comes as the Covid-19 pandemic underlines the importance of access to clean water. The research shows that rising bills are not just hurting the poorest but also, increasingly, working Americans.

“More people are in trouble, and the poorest of the poor are in big trouble,” said Roger Colton, a leading utilities analyst, who was commissioned by the Guardian to analyse water poverty. “The data shows that we’ve got an affordability problem in an overwhelming number of cities nationwide that didn’t exist a decade ago, or even two or three years ago in some cities.”

Water bills exceeding 4% of household income are considered unaffordable.

[dxmedstudent]

We have educations, credit cards, were raised with privilege and access – but our lives are filled with financial uncertainty

An increasingly common situation for our generation.

[partisan-by-default]

Revealed: millions of Americans can’t afford water as bills rise 80% in a decade

Exclusive: analysis of US cities shows emergency on affordability of running water amid Covid-19 pandemic

Millions of ordinary Americans are facing rising and unaffordable bills for running water, and risk being disconnected or losing their homes if they cannot pay, a landmark Guardian investigation has found.

Exclusive analysis of 12 US cities shows the combined price of water and sewage increased by an average of 80% between 2010 and 2018, with more than two-fifths of residents in some cities living in neighbourhoods with unaffordable bills.

In the first nationwide research of its kind, our findings reveal the painful impact of America’s expanding water poverty crisis as aging infrastructure, environmental clean-ups, changing demographics and the climate emergency fuel exponential price hikes in almost every corner of the US.

[paintbynumbers]

How much is the perfect wedding? I’m spending $60 – including a dog tuxedo | Arwa Mahdawi

The average cost of a wedding is so high that many couples can’t afford it, but go ahead anyway and get into debt. But there is another way, says Guardian columnist Arwa Mahdawi

Mazel Tov to the brides!

[rivertalesien]

Revealed: millions of Americans can’t afford water as bills rise 80% in a decade

Exclusive: analysis of US cities shows emergency on affordability of running water amid Covid-19 pandemic

[suzilight]

'I have no money': debt collection continues despite pandemic

Legal groups across the US are calling on federal and state governments to halt debt collection as it continues unabated

Joseph Walker of Lawrence, Kansas, went to the emergency room last year on advice of his doctor after he experienced sudden chest pressure. Despite having health insurance through his employer, he left with a medical bill for a few thousand dollars and still owes about $2,800.

Last week, Walker, who drives a construction dump truck, had the last $200 in his bank account garnished by a debt collection agency for the bill. After the agency obtained a judgment against him to collect the debt, Walker tried to work out a monthly payment plan, but his wages have been garnished anyway.

“The garnishment came with no warning. You don’t know until your bank account is locked and your money is gone,” said Walker, who didn’t receive the order of garnishment in the mail until 24 March, after money was taken from his account, and he has already started to fall behind in paying bills.

“Unlike the rest of my bills that I can see, the debt collection agency doesn’t send you one. You can’t arrange to auto-pay and they don’t send anything showing what you paid. It’s like they are set up to make you fail. With the coronavirus they shouldn’t be allowed to harass and garnish bank accounts while Americans are in this crisis.”