What would you do if, like Sandy Beck, your income suddenly dropped by two third

Question

What would you do if, like Sandy Beck, your income suddenly dropped by two thirds and you lost all your benefits? What sacrifices would you have to make?

How different would it be if we had social protections like universal health care, secure pensions, job training and placement assistance, 80% unemployment pay, income supports for families, paid parental leave, and universal childcare?

Would you be willing to pay 20% more of your income, like the Swedes do, to have all those benefits guaranteed to you?

Explanation / Answer

One of the most important element for a happy life is to manage one’s income and expenses effectively. When my income falls short and benefits cut, I need to make sure that I sacrifice some of my luxuries and expensive lifestyles in terms reducing the partying time, buying only what is necessary and spending on what is most important. This will help me balance the loss that occurred.

It would be very good for people who really struggle but for lazy people it would become a reason to stay beck and enjoy the benefits while few people work for them day and night. Nevertheless, it’s a very good system that would support families in times of job loss and recession.

When people expect things to go smooth and without any trouble, they should also contribute towards that. If this contribution is done by all and the amount is used properly by the policy makers, people should welcome it. They shouldn’t think it as a personal loss but a gain at later point of time when they themselves lose their job or become incapacitated.

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