Mainecat Posted January 31, 2018 Share Posted January 31, 2018 Survey: 69% Of Americans Have Less Than $1,000 In Savings Niall McCarthy A new survey suggests that nearly 7 in 10 Americans have only $1,000 or less in their savings accounts. GoBanking asked 7,000 people around the country how much money they had set aside in savings accounts for the future, and found that 34 percent of them have absolutely nothing set aside. A small portion of the respondents, 15 percent, have $10,000 or more in their savings accounts, while a further 4 percent have between $5,000 and $10,000. GoBanking said that people living beyond their means is one likely reason for the downward trend in savings. The rise of cashless payment options has made it easier than ever to spend money, resulting in more people splashing their cash electronically without giving it a second thought. *Click below to enlarge (charted by Statista) https://www.forbes.com/sites/niallmccarthy/2016/09/23/survey-69-of-americans-have-less-than-1000-in-savings-infographic/ Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted January 31, 2018 Gold Member Share Posted January 31, 2018 is this Trump's fault or something? Quote Link to comment Share on other sites More sharing options...
Sleepr2 Posted January 31, 2018 Share Posted January 31, 2018 2 minutes ago, Mainecat said: Survey: 69% Of Americans Have Less Than $1,000 In Savings Niall McCarthy A new survey suggests that nearly 7 in 10 Americans have only $1,000 or less in their savings accounts. GoBanking asked 7,000 people around the country how much money they had set aside in savings accounts for the future, and found that 34 percent of them have absolutely nothing set aside. A small portion of the respondents, 15 percent, have $10,000 or more in their savings accounts, while a further 4 percent have between $5,000 and $10,000. GoBanking said that people living beyond their means is one likely reason for the downward trend in savings. The rise of cashless payment options has made it easier than ever to spend money, resulting in more people splashing their cash electronically without giving it a second thought. *Click below to enlarge (charted by Statista) https://www.forbes.com/sites/niallmccarthy/2016/09/23/survey-69-of-americans-have-less-than-1000-in-savings-infographic/ Give’em some of yours Quote Link to comment Share on other sites More sharing options...
Momorider Posted January 31, 2018 Share Posted January 31, 2018 Just now, BOHICA said: is this Trump's fault or something? Trump must have doubled that number with all the Tax bonuses being handed out oh yah that's just crumbs according to DemonCUNTS Quote Link to comment Share on other sites More sharing options...
Guest Posted January 31, 2018 Share Posted January 31, 2018 I don't buy that survey at all. I was looking up some stats regarding this, and from what I read people have a lot more in savings and net worth. I bet most on this site have many thousands in the bank. Quote Link to comment Share on other sites More sharing options...
racinfarmer Posted January 31, 2018 Share Posted January 31, 2018 I'm in the minority. Give me something. 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 31, 2018 Author Share Posted January 31, 2018 A thousand bucks? Only 3 out of ten Americans have a thousand bucks? Really? That’s fuckin horrible. 1 Quote Link to comment Share on other sites More sharing options...
racinfarmer Posted January 31, 2018 Share Posted January 31, 2018 Just now, Mainecat said: A thousand bucks? Only 3 out of ten Americans have a thousand bucks? Really? That’s fuckin horrible. Something like 50%+ live paycheck to paycheck. Quote Link to comment Share on other sites More sharing options...
Gold Member BOHICA Posted January 31, 2018 Gold Member Share Posted January 31, 2018 2 minutes ago, Mainecat said: A thousand bucks? Only 3 out of ten Americans have a thousand bucks? Really? That’s fuckin horrible. is this just a concern of yours with trump as president. Quote Link to comment Share on other sites More sharing options...
teamgreen02 Posted January 31, 2018 Share Posted January 31, 2018 I believe this number. It has nothing to do with the economy and the president and everything to do with poor financial habits. The average car payment is $500+ per month over something like 84 months. Quote Link to comment Share on other sites More sharing options...
racinfarmer Posted January 31, 2018 Share Posted January 31, 2018 3 minutes ago, teamgreen02 said: I believe this number. It has nothing to do with the economy and the president and everything to do with poor financial habits. The average car payment is $500+ per month over something like 84 months. Something concerning. Know of plenty of people who are only concerned about the weekly/monthly payment and not what it really costs. https://jalopnik.com/a-third-of-car-trade-ins-are-now-utterly-worthless-on-p-1822443820 1 Quote Link to comment Share on other sites More sharing options...
Rod Posted January 31, 2018 Share Posted January 31, 2018 33 minutes ago, Mainecat said: A thousand bucks? Only 3 out of ten Americans have a thousand bucks? Really? That’s fuckin horrible. It’s their own fault. Need the latest iPhone and Nintendo every few months Quote Link to comment Share on other sites More sharing options...
Dave Posted January 31, 2018 Share Posted January 31, 2018 Quote Link to comment Share on other sites More sharing options...
NaturallyAspirated Posted January 31, 2018 Share Posted January 31, 2018 Although saving for the future is a noble and commendable action I don't see living paycheck to paycheck as necessarily a bad thing. It is a motivation to keep focused and driven, to improve your financial position. Neal Quote Link to comment Share on other sites More sharing options...
USA Contributing Member $poorsledder$ Posted January 31, 2018 USA Contributing Member Share Posted January 31, 2018 My BIL didn't offer me an over paid job where I'm on the internet all day. Quote Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 31, 2018 Share Posted January 31, 2018 6 hours ago, Mainecat said: A thousand bucks? Only 3 out of ten Americans have a thousand bucks? Really? That’s fuckin horrible. Thanks Obama. Quote Link to comment Share on other sites More sharing options...
Edmo Posted January 31, 2018 Share Posted January 31, 2018 I was like that until my mid to upper 20’s. Six of those brand new grand nationals arrived at my favorite dealer, and I didn’t have the money to buy one. I never did get the car, but I did start saving. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted January 31, 2018 Platinum Contributing Member Share Posted January 31, 2018 5 hours ago, NaturallyAspirated said: Although saving for the future is a noble and commendable action I don't see living paycheck to paycheck as necessarily a bad thing. It is a motivation to keep focused and driven, to improve your financial position. Neal Zero excuse for not having 6 months of bills raining day fund built up. Personally I think Dave Ramsey takes the whole zero debt thing a bit too far but he does make a lot of valid financial points and the rainy day fund is one of them. American's do spend beyond their means. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted January 31, 2018 Platinum Contributing Member Share Posted January 31, 2018 50 % of Americans pastime is recreational shopping. My wife works with . Shops every Saturday. Never has a need to buy she shops because she enjoys it. Add in all the bipolar fucks in this country who shop when they are on a low and its easy to see why. 1 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted January 31, 2018 Share Posted January 31, 2018 8 hours ago, NaturallyAspirated said: Although saving for the future is a noble and commendable action I don't see living paycheck to paycheck as necessarily a bad thing. It is a motivation to keep focused and driven, to improve your financial position. Neal Some truth. I think it was Hamilton that said, “The national debt was a national blessing.” But only a $1000? Hmmm..... 2 hours ago, Highmark said: Zero excuse for not having 6 months of bills raining day fund built up. Personally I think Dave Ramsey takes the whole zero debt thing a bit too far but he does make a lot of valid financial points and the rainy day fund is one of them. American's do spend beyond their means. This. I had a buddy get me involved with that Ramsey stuff in the mid 90’s. And while some of it is a bit too far (and not realistic for many), I gotta admit, being debt free is priceless. It is weird having ZERO credit though. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted January 31, 2018 Author Share Posted January 31, 2018 2 hours ago, Highmark said: Zero excuse for not having 6 months of bills raining day fund built up. Personally I think Dave Ramsey takes the whole zero debt thing a bit too far but he does make a lot of valid financial points and the rainy day fund is one of them. American's do spend beyond their means. I was just shocked at that figure....almost 70% of Americans can’t scratch up a thousand in cash. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member steve from amherst Posted January 31, 2018 Platinum Contributing Member Share Posted January 31, 2018 My apprentice has a $700 smart phone. Mine cost $170. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted January 31, 2018 Share Posted January 31, 2018 4 minutes ago, Zambroski said: Some truth. I think it was Hamilton that said, “The national debt was a national blessing.” But only a $1000? Hmmm..... This. I had a buddy get me involved with that Ramsey stuff in the mid 90’s. And while some of it is a bit too far (and not realistic for many), I gotta admit, being debt free is priceless. It is weird having ZERO credit though. Ramseys a bit of a charlatan but if he can get some of these financial rubes to not fall into the trap what he's milking them for end of the day is not bad. having zero credit in todays america is foolish even if you do it for something as basic as getting better price on your insurance as theres no need to actually pay any interest to keep a good credit score. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted January 31, 2018 Platinum Contributing Member Share Posted January 31, 2018 11 minutes ago, Mainecat said: I was just shocked at that figure....almost 70% of Americans can’t scratch up a thousand in cash. Think of the monthly bills today vs. 25 years ago. No different than HC one would think technology would make our lives more efficient when it reality it costs hundreds and hundreds of $'s each month. Everything from Netflix to the costs of smartphones. I remember growing up before cable. My parents probably had a mortgage, auto loan, utility bill and phone bill and that's it. Look at us now. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted January 31, 2018 Share Posted January 31, 2018 3 minutes ago, Highmark said: Think of the monthly bills today vs. 25 years ago. No different than HC one would think technology would make our lives more efficient when it reality it costs hundreds and hundreds of $'s each month. Everything from Netflix to the costs of smartphones. I remember growing up before cable. My parents probably had a mortgage, auto loan, utility bill and phone bill and that's it. Look at us now. I have your parents beat, I don't have any auto loans. Quote Link to comment Share on other sites More sharing options...
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