Who’s in a better financial position?

Did you know that the people who have only a pension as a source of income seem to manage their money better than people who have a job? 

Many people who are employed or have a job that pays them a regular wage, have a tendency to possess a ‘devil-may-care’ attitude when it comes to money. The more they earn, the more they spend. 

That’s possibly because they know that every week they’ll go to work and they’ll get paid. So a lot of them figure that it doesn’t matter if they spend all their wage every week – there’ll be more money coming in again on pay day. 

The people who have only a pension to support them tend to be quite frugal – possibly because they don’t have much money paid to them. 

But have you ever thought about this – the people on pensions are actually in a more secure financial position than those who work. That’s because they get paid every week or fortnight; year in, year out. The person who works for a living has a much more tenuous position because they have no guarantees that their job will still be there next week or next month. 

They could lose their job tomorrow and be ineligible for social security payments for quite a few weeks. If that happens then the pressure is actually on to find another source of income (get a job) as quickly as possible. 

The pensioner doesn’t have to worry about that – they’re still going to get paid next week, even if it is only a very small amount. 

So why is it that those on a pension seem to manage their money better than those who are employed? It makes you wonder, doesn’t it? 

If you lost your job tomorrow, how long would it be before you had to line up for welfare payments?

(c) Budget Bitch

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