17% of people don't have $500 saved

[weg]

In almost every case, I'd bet these people don't have $500 is because of their priorities.

$500 is not alot to put aside, even when things are tight, so I suspect it often is a case of priorities.

Personally I don't think many of these people lose sleep over it either (it would be temporary or wouldn't happen otherwise), until the LL is threatening to kick them out, the power is about to be cut off, etc.

 

[sanj]

The scary thing is; this is the average.

There are folk out there with several hundreds of thousands saved - and this would be a minority of people, and these would lift the average.

no, it would not affect the survey because the question was how many people could find betw $500-$1000 at short notice.

people with hundreds of thousands saved would affect the survey in the same way someone with $2000 saved would, ie they would be in the "yes i can come up with the money" column

 

[hobo-jo]

I saw that Four Corners tv show.
It's sad for the innocent children, butthe parents brought most of the problems on themselves.
If they actually delved into their last 2 years, I'm sure they had plenty of better choices they could have made.

In some cases the fault was clearly with the family (parents), but others not so much. For example there was the family that lived off their savings for 6 months before things got ugly... if house prices plunged like they did in the US then I think even many on Somersoft would be in trouble if they lost their job and couldn't find something for 6 months to make the mortgage repayments.

But I'm sure of those who live week to week (from the survey), most would be able to put something aside if they were motivated enough to do so.

 

[ok180]

My first job was for a company where a bunch of wives used to hang around out front on Friday lunchtimes waiting for their husbands pay to arrive (we were paid in cash). I was only 22 but I found it scary, I think it helped drive me to make sure I was never in that situation.

When I used to employ people I had empolyee's who's wives would wait at the atm and knew the exact minute the money was available to withdraw from that weeks wages. Sometimes for whatever reason the money would get there a bit later in the day, the worker would start having a melt down asking me to ring the bank to find out what happened to their money. Generally they would be paid on Wednesday and be broke by the weekend.

I had other empolyees driving to work in uninsured vehicles, no green slip rego etc. I used to ask them what would happen if they had an accident? They would just laugh it off. Of course I knew nothing would happen to them because they basically owned nothing so the insurance had nothing to go after. A couple of them did end up in this exact scenario crashing into people or getting fined.

They used to finance bombs and then never paid the finance company, heard of stories where they would go out somewhere and come back to find the tow truck hauling the car away.

Christmas used to be a funny time too, I had losers ringing me on 27th of December begging to go back to work because they had no money left. Mind you they just got paid a bundle of public holidays and annual leave. A lot of that money would go into the pokies at our Christmas party. Scary how some live.

 

[Crabnet]

Is it legal??? Working and not getting paid???

Yes it is but in this case the benefit most likely falls under the Fringe Benefits Tax regime http://www.ato.gov.au/businesses/content.aspx?doc=/content/52005.htm

 

[BayView]

no, it would not affect the survey because the question was how many people could find betw $500-$1000 at short notice.

people with hundreds of thousands saved would affect the survey in the same way someone with $2000 saved would, ie they would be in the "yes i can come up with the money" column

I also reckon that a lot of people lie in surveys just because.

Maybe embarrassment of not having access to $500 readily - some would say they can when they ever ever could, or maybe stretch the truth to **** the survey dudes off, or other?

 

[BayView]

Is it legal??? Working and not getting paid???

One bloke I know has an agreement with all his staff which works on a credit/debit arrangement with their hours; over summer when they are extremely busy they work more than their agreed hours and go into credit.

Then, over winter when they are extremely quiet they take off lots of time, and can end up in debit, and so on.

No overtime is ever paid - unless they leave and are in credit.

Is it legal? Don't know; but he's been doing it for many years, and all staff are happy with it.

 

[natmarie73]

I was inside a bank once and a very rough bloke was abusing the teller because he couldn't withdraw $30 from his account when the ATM told him he had $36 in there. He asked how he was supposed to pay for fuel when "they" wouldn't let him have his money.

 

[Intrinsic_Value]

Is it legal??? Working and not getting paid???

who cares, the problem was solved to the mutual benefit of both parties concerned.

 

[HotRod]

who cares, the problem was solved to the mutual benefit of both parties concerned.

I'll remember that defence if I'm ever up on a murder charge.

 

[spludgey]

Is it legal? Don't know; but he's been doing it for many years, and all staff are happy with it.

Obviously they would be. They get an effective 50% raise and the business doesn't have to pay overtime, super, sick days, annual leave, etc.
The only one that wouldn't be happy would be the tax man.

I think that this probably isn't legal, and if it is, why isn't everyone doing it?

 

[Fifth]

I was inside a bank once and a very rough bloke was abusing the teller because he couldn't withdraw $30 from his account when the ATM told him he had $36 in there. He asked how he was supposed to pay for fuel when "they" wouldn't let him have his money.

Who wouldn't be annoyed if the bank wouldn't let them withdraw their money? There was obviously more to it than that, otherwise I'd have been a tad abusive too regardless of whether I had $36 or $36,000,000.

I'm not just referring to the above post, but a fair few posts on this thread have an overly superior tone.

There have been times in my past when I have queued up for a teller because I didn't have enough in my account to allow for an ATM transaction. I'm not suddenly a better person because I don't live day to day or week to week. These threads just become ego rubs. Yay for us, we can spare 1k

 

[Intrinsic_Value]

I'll remember that defence if I'm ever up on a murder charge.

big difference between murder, and the essence of capitalism. Where ever possible, capitalism will show its routes, because it provides the most efficient allocation of resources. Even under restrictive government policies.

The trouble is mr and mrs average gradually becomes removed from capitalism, as they believe falsely in the nanny state, the security of their pay cheques, their position within a corporate or government beauracracy etc etc.

Its really quite beautiful looking at cycles withing cycles.

 

[Intrinsic_Value]

Obviously they would be. They get an effective 50% raise and the business doesn't have to pay overtime, super, sick days, annual leave, etc.
The only one that wouldn't be happy would be the tax man.

I think that this probably isn't legal, and if it is, why isn't everyone doing it?

First of all its definately not legal, if in doubt just ask fair work australia, and get a second opinion from the Australian taxation department, lol.

But this is all completely irrelevant, the point is the 'worker' and the 'employer' are happy with the arrangement, so it flies unde the radar (could never happen with a big business, because big business by its nature, is more hamstrung by the requirement to implement the correct laws).

I laugh so hard when i read these sought of articles, because when i see them, i see the ultimate in hypocracy: Greece. And how it conducts its affairs.

And yet even in Greece, there are opportunities to invest. One of my biggest share marke exposures is to OPAP. Average buy in point: about 4.8 euros (including last years dividend).

 

[BayView]

Who wouldn't be annoyed if the bank wouldn't let them withdraw their money? There was obviously more to it than that, otherwise I'd have been a tad abusive too regardless of whether I had $36 or $36,000,000.

I'm not just referring to the above post, but a fair few posts on this thread have an overly superior tone.

There have been times in my past when I have queued up for a teller because I didn't have enough in my account to allow for an ATM transaction. I'm not suddenly a better person because I don't live day to day or week to week. These threads just become ego rubs. Yay for us, we can spare 1k

I don't think it's to do with "we have, and they don't; so nya-nya-ne-nya-nya!" at all.

The bloke should have realised that ATM's can't dispense $6, and either copped it sweet, or go to the Teller and ask politely for the money.

But; he didn't think of that, and then proceeded to ruin the poor Teller's day with a sooky lala attitude and behavior.

Finally; no-one else created the situation where he only had $36 in his account with which to buy fuel; he did.

Just sounds like another "victim", to me.

 

[BayView]

Is it legal??? Working and not getting paid???

They are getting paid.

They get their full week's wage each week as a standard amount of folding cash.

Then, they get their overtime hours credited or debited accordingly against their standard 37.5 hour week.

So, say they are owed 10 hours, then in winter they get the corresponding hours off work in relation to the ovetime, with full pay and benefits - over and above any holiday pay and sick pay etc.

Same as hairdressers etc who get time off during the week because they work on sat mornings and Thurs nights.

How is it that they aren't getting paid in this scenario?

 

[Angel]

Spludgey, since when does anyone in Australia, especially on low wages, pay almost 50% of their income in tax? That's a myth.

 

[Mooze]

Would be exactly the same as the Govt Public Service flex/ TOIL system - you work more than your allocated hours per week it accumulates to take time off in lieu at a later date agreeable to both the employer and employee

 

[ok180]

I'm not suddenly a better person because I don't live day to day or week to week. These threads just become ego rubs. Yay for us, we can spare 1k

Sorry dude but in this country 99% of the time there is no excuse to live like that. Infact I take it as an insult to live like that in this country that offers to much opportunity.

The people who I have employed over the years who did the whole week to week thing were generally complete and utter grubs with no respect for themselves or anybody. Some who I employed could see what they were doing was wrong and changed their ways for the better of themselves and their family but others just didn't care. There are poor *******s in 3rd world countries that would give anything to come here and have a go at making something of themselves and then you have these losers making a mockery of whats on offer. Pathetic.

Not saying you have to squirrel away every penny, but don't be a bum abusing the privilege you have of living in this country.

 

[hobo-jo]

The people who I have employed over the years who did the whole week to week thing were generally complete and utter grubs with no respect for themselves or anybody.

Well I guess that's your experience.

Most of the people I know who live week to week (or have done so for periods of time) has been a result of having large mortgages and are put under financial pressure when one of two income earners loses their job or other circumstances means they drop down to one income (medical/health reasons, baby, etc).