>> the US is a very wealthy country. In 2019, something like 42 million Americans - not much below the population of Spain - had incomes over $100,000
Yet, 4 out of 5 Americans live paycheck to paycheck, and 3 in 10 have no emergency savings at all.
The numbers will vary based upon what study/report you read, but the message is clear that the majority of people are not making financially sound decisions.
What you're saying is however not in disagreement with the comment you are replying to!
Living paycheck to paycheck can happen even if you're making 400-500k. I've seen people do it.
You can have no emergency savings (at all) and be making $100k+.
It's pretty easy - spend everything you have (often on "dumb" things like expensive takeout for every meal, a lease on a car you don't need, more house than you can afford, refreshing electronics constantly for no reason, etc.).
The reasons usually boil down to lack of emotional regulation and/or bad spending habits, not lack of income - though it is easier to do with low income, as the margins are smaller.
Yet, 4 out of 5 Americans live paycheck to paycheck, and 3 in 10 have no emergency savings at all.
The numbers will vary based upon what study/report you read, but the message is clear that the majority of people are not making financially sound decisions.