Even if we assume these websites to be accurate, The data and conclusions are wildly speculative and ask more questions than answer. This isn't remotely evidence for your claim.
What are the demographics by age, geography for the people paying for cable tv, going out for dinners 5 times a week and that have $5k of credit card debt. You seem to be assuming they are all the same people, and you are assuming that correlation is causation.
Besides, even I indulge -
The link you shared about cord cutting statistics, if you read through the link, its making the point that cutting the cord was on the rise and in 2018 increased by 32.8% compared to 2017. In 2018 alone 33M people canceled their TV subscription. Seems like your data suggests people are increasingly doing what you want them to do, cutting the cord and saving money.
The link about people going out for lunch and dinner, it actually doesn't have any data in it. It appears to be a blog by a private citizen.
The link you shared about credit card debt, well that actually says that average credit card debt reduced by 14% from 2019 to 2020, while the avg fico across all generations increased. Seems like another trend that you wanted people to do. Surprisingly it also says that while avg credit card debt reduced from 2019 to 2020, student loan debt increased the highest of any debt category, by 9%.
Should I be concluding that people have been cutting the cord and saving money on cable tv, reducing credit card debt and investing in education? Or are we just cherry picking statistics to support a belief without really looking at the data.
There's a spectrum between the extremes of "over consumption" and "the man is keeping me down". And in the middle there's also "simply playing the hand you're dealt".
Looking at the comments here, it seems like people cherry pick anecdotes or statistics to support their beliefs about the distribution.
Can speak for myself, I don't live paycheck to paycheck now but I grew up in a household with a lot less money than I make now in comparison - Involved lot of sacrifices and accumulating modest savings over a lifetime to help the next generation to live a bit better and make fewer such sacrifices.
> Most people pay $100+/month for cable, eat out multiple times per week, have thousands of credit card debt, and an unexpected $400 bill would ravage them.
There's also a cohort that might not earn a lot but is financially responsible, frugal and makes modest gains towards big goals e.g. education for kids, home ownership which can take almost a life time.
There's a big spectrum from being poor due to being financially irresponsible and being lucky enough to be in their 20s, debt free and paying off a mortgage instead of rent (with help for college, down payment etc from family to have a healthy head start). Not everyone who doesn't have the means is in such a place because they are lazy or is financially irresponsible. Simply stating that most people are a certain way without evidence is just disingenuous and judgemental, perhaps exposes a bias more than anything.
It indeed is a luxury to be able to take a year off at will. Big reason I can think of is financials.
In my opinion, burnout is a problem only faced by people who can afford to do so. I am not saying everyone doesn't face burnout, they probably do, but not everyone can afford to take a sabbatical, dip into savings, indulge in a hobby etc. There are many people who don't earn as much as a silicon valley engineer, have low savings to dip into, and perhaps even have/inherit debt - Making rent and being able to afford essentials takes priority to dealing with burnout in such situations.
What are the demographics by age, geography for the people paying for cable tv, going out for dinners 5 times a week and that have $5k of credit card debt. You seem to be assuming they are all the same people, and you are assuming that correlation is causation.
Besides, even I indulge -
The link you shared about cord cutting statistics, if you read through the link, its making the point that cutting the cord was on the rise and in 2018 increased by 32.8% compared to 2017. In 2018 alone 33M people canceled their TV subscription. Seems like your data suggests people are increasingly doing what you want them to do, cutting the cord and saving money.
The link about people going out for lunch and dinner, it actually doesn't have any data in it. It appears to be a blog by a private citizen.
The link you shared about credit card debt, well that actually says that average credit card debt reduced by 14% from 2019 to 2020, while the avg fico across all generations increased. Seems like another trend that you wanted people to do. Surprisingly it also says that while avg credit card debt reduced from 2019 to 2020, student loan debt increased the highest of any debt category, by 9%.
Should I be concluding that people have been cutting the cord and saving money on cable tv, reducing credit card debt and investing in education? Or are we just cherry picking statistics to support a belief without really looking at the data.