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I know to not spend more than I earn, but what if I lost my job? I have about a year's worth to sit on while I work my ass off to find a job, but what if my next job is only $36k a year? $24k? What if my income dips below the point where I can realistically cut spending? I don't think I could live on $12k a year even with extreme budgeting. If I lived with many room mates in the worst place imaginable, ate nothing but the cheapest food, walked to and from work and the store.... and what if I had a wife and several children to support on that amount? It'd be easier if they lived in an impoverished nation where the USD still had value, but if they were here in the US making sure they were fed and clothed could become very difficult.
Is this probable? Not yet, but unemployment and low paying jobs are on the rise even here in the SF bay area. If the USD continues to fall, gas continues to rise, and unemployment and low paying jobs continue to grow I could find myself having to relocate to a different country in order to keep from being impoverished. Oddly enough I'd be more likely to find decent work in more socialist (relatively) countries like Canada, Japan, and many European countries.
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