Jun 12, 2025
#news #economy #inflation
America is facing a cost of living crisis. "CBS Evening News" spoke to three Americans about what it's like trying to stay afloat as everyday costs surge.
Americans open up about their struggles to afford basic needs
00:00 Teacher on $37,000 salary shows what surviving as a single mom really looks like
2:36 Police officer shares struggle to buy first home amid rising costs
5:04 70-year-old widow on Social Security can't afford to retire
I wonder how many planned ahead.
I'll admit that where I'm at, is more serendipity than planning. But, yes, I controlled myself, even when making the $$BIG BUX$$ twenty years ago.
I didn't buy that spendy big truck, the Compensator 350. When I bought a home in Buffalo, it was $53k. Probably $130k now - don't know; the house was demolished and a new structure on the lot, so I can't say.
But it wasn't demolished for its condition - just that it was primitive. Owner built, fifty years earlier.
I could have qualified for a $350k loan; but I had seen people who were house-poor. Not for me.
So I went from $120k twenty years ago, to $90k ten years ago, to now, $32,000 on a pension check.
I am making it. Easily, in retrospect. I have savings (stacking) and my expenses are below my income.
What I do NOT have, is a car payment or a mortgage, or credit-card bills.
I'd LOVE to get on a Carnival Cruise ship and be drunk in my stateroom, gambling every night, eating Prime Rib at ever dinner...but, you know? That's not in the cards. I had sirloin steak for dinner last night, and didn't need a SNAP card to buy it, either.
Prices WILL go up. Unless this government collapses (which is possible) I'll have my niggardly pension check, and when it doesn't cover, I can sell a coin here, a coin there.