Who doesn’t want to earn more money? However, Americans are so desperate to earn more cash that they can trade their and even their child’s right to vote for 10 percent hike. A new survey of more than 1,200 American employees from LendEDU, an online marketplace for student loan refinancing, revealed what Americans can give up for few more bucks, and the results are flabbergasting.
According to the survey, more than 70 percent of them were ready to quit drinking for five years for 10 percent raise in their annual income. More than 50 percent were ready to give up watching movies, and more than 88 percent were willing to sacrifice watching Game of Thrones for an immediate salary bump. These findings may seem harmless. However, the research showed that about 18 percent of them can give up health insurance and 15 percent can give up vacation days for next five years. More disturbingly, about 5 percent of them would eat single Tide Pod for an immediate hike in salary. Recently, there was another challenge that went viral in teenagers, “#Tide pod challenge”. It led to death of 10 people due to cardiac arrest and breathing problems. When memory of those victims is still fresh, such findings have peaked attention globally. Several results are so disturbing that one can say that value of life is becoming cheaper day by day. The study showed that more than 12 percent are willing to end their relationship. In addition, around 18 percent would give up social security benefits for next two years.
Desire for more money is not uncommon. However, it is a matter of survival for some people. Cost of living in the well-developed areas such as Bay Ares has increased so drastically in the past few decades that people are willing to sacrifice even the important things such as dental care and health insurance for money. Moreover, several residents are fleeing the state. The inflation has further made it difficult for Americans to afford their own home as well as save for the future. According to a survey, about 34 percent of Americans have no savings at all, and about 65 percent have saving less than $1,000.
When asked about the less amount of salaries in AmericaJoseph Song, U.S. economist at Bank of America Merrill Lynch said, “One plausible explanation behind such drastic choices is that structural factors, including unfavorable demographics and industry-specific dynamics play a bigger role than the cyclical factors. However, we expect that the decreasing unemployment rate will strengthen wages.” On the other hand, researchers also believe that companies have forgotten how to compensate employees fairly and workers have forgotten their worth, which leads to less salary and overall supplementary bonuses. Whatever the reasons may be, fact remains that, Americans need to take some firm actions to increase their paychecks or start saving money more efficiently.