Some NC Stats (Durham: 2015, credit card, best schools)

[mlhm5]

What percent of people in NC could come up with $400 without borrowing it or putting it on a credit card? How about nationwide? The median household income in the USA was $55,775 and the median household income for NC was $47,830. https://goo.gl/15BZml

Take a look at this 2014 map and take a guess. https://goo.gl/34TuUV



Here is what the Fed says after interviewing 5000 people. https://goo.gl/0PUfPP



So to answer the question, 47% of people nationwide cannot come up with $400 without borrowing or putting it on a credit card.

NC has a predominance, 90 out of 100 counties, whose average income falls below the state average, many with average incomes 25% below state average, which would raise the 47% number considerably. 20% (2MM)of the population of NC receives Medicaid/CHIP and families of three making $40K are eligible for SNAP.

Since schools are paid from property taxes, it is obvious these poorer counties cannot compete with the wealthy counties in the quality of education (Wake and Durham supplement teacher's salaries by ~$7K a year) and it shows if you research US News top US/NC high schools. The best schools are in the few wealthy counties.(5 counties account for appx 50% of the state population)

Although North Carolina teachers received the largest average pay increase in the country, NC [Average] Teacher Pay Was Ranked 41st for the 2014-2015 school year placing NC below SC, TN, VA and the national average. Over all NC was ranked 34th - http://www.edweek.org/media/ew/qc/20...shr.nc.h34.pdf


So outside a few counties in NC, the state is rural, mostly poor, has substandard teacher salaries and schools perform 34th out of 50 states.

[ZeusAV]

This isn't something new or unknown. Basically without the metro areas NC is Mississippi and it's always been that way. How else do you suppose politicians who passed so many regressive laws and measures over the past few years got into power?

[Jowel]

I know $47,830 isn't a wealthy income, but if a household even at that modest income level (or in that general range) is habitually unable to come up with $400 in savings without borrowing it or putting it on their credit card, they need to work on some financial literacy and spending habits.

[BoBromhal]

should we try to understand these 1 number, or unsupported conclusion at a time?

For starters, it can only be said that 5 counties earn at or above the average. the next 5 you're counting earn 0-9.9% LESS. of course, nobody seems to fall in the both category, so perhaps it should say 0.1-9.9% higher/lower.

Further, if 5 counties count for 50% of the population as you've told us (without a link, etc), isn't it most likely those 5 highest-income counties? Maybe Guilford is > Durham, I don't know.

And it categorically cannot be concluded by any numbers that since our average income < national average that our % of "can't pay a $400 bill without borrowing" would be above the 47%.

[mlhm5]

Originally Posted by BoBromhal

should we try to understand these 1 number, or unsupported conclusion at a time?

For starters, it can only be said that 5 counties earn at or above the average. the next 5 you're counting earn 0-9.9% LESS. of course, nobody seems to fall in the both category, so perhaps it should say 0.1-9.9% higher/lower.

Further, if 5 counties count for 50% of the population as you've told us (without a link, etc), isn't it most likely those 5 highest-income counties? Maybe Guilford is > Durham, I don't know.

And it categorically cannot be concluded by any numbers that since our average income < national average that our % of "can't pay a $400 bill without borrowing" would be above the 47%.

90 counties fall 10+% below the NC average wage. Does not take a genius to figure the number is higher in those counties, on average, than the national average.