62% of Americans have less than $1000 in savings

[HiphopRelated]

 

[OH SOHH TRILL]

Okay, so what? Most of those who benefit from large tax returns are single parents. Your average single mom in the hood might be making $12.50 per hour taking care of two to three kids (how else do you get the refund). A lot of the "blowing" of the money comes from catching up on outstanding debt accumulated throughout the year due to inadequate household income. The remainder of the "blowing" stems from splurging on luxuries for herself and the children. God forbid someone does something more than work on this Godforsaken rock. It's already been stated that most Americans live check to check. There's a statistic that states that average household will live check to check until it reaches an annual income of 130K. So, on one hand we have those who will look upon Roger Wentworth with a nice for buying that new 4K TV which he maxed out two credit cards to finance (unbeknownst to you) and on the other we look at Shanequa Jones with disgust as she buys a PS4 for her three boys (how DARE she ). There's an income level bias when it comes to living beyond your means.

And this is real spit. I tell people all the time that we critize us for buying 3k rims but don't say nothing to Becky taking multiple 2k vacations (on credit) in a year.

 

[Rarely-Wrong Liggins]

They're just not spending their drops wisely.

 

[Cat piss martini]

Most Americans have less than $1,000 in savings

I got a sexy pile put away.

 

[DEAD7]

Capitalism, it's great for everyone

What does this have to do with capitalism?

 

[Rarely-Wrong Liggins]

And this is real spit. I tell people all the time that we cut critize us for buying 3k rims but don't say nothing to Becky taking multiple 2k vacations (on credit) in a year.

And dudes always want to post these outliers like a nikka living in the middle of 5th Ward on Gregg St. pushing a 90k 2016 Escalade like that's the normal. To most, bad spending habits are purchasing a video game here, a night out there. It does add up. Or living in a $800 two bedroom instead of the $500 two bedroom so their family can feel relatively safe. Paying a car note instead of buying a cash car which makes frequent trips to Pancho's Auto Repair. These nikkas on here sound like Fox news commentators.

 

[King Poetic]

The main problem I see in my community is negros leaving home cause they need their space but spend all their money on rent and don't have any money for groceries

My Mexican neighbors husband and wife live with her parents just to save money till they stick up....

My other neighbors are to proud to move back home and rather spend all their paychecks on rent and car notes and can't even buy a quart of milk

 

[Clark Wayne]

I'm doing pretty decent. I got 3k in savings and haven't withdrew any money from it at all. Just started the account back in August.

I still need to start putting money in my Roth though. That's the area where I'm really slacking at - investing.

 

[DEAD7]

This is the result of have a financial system operating almost solely on credit.

#factsonly

 

[Rarely-Wrong Liggins]

The main problem I see in my community is negros leaving home cause they need their space but spend all their money on rent and don't have any money for groceries

My Mexican neighbors husband and wife live with her parents just to save money till they stick up....

My other neighbors are to proud to move back home and rather spend all their paychecks on rent and car notes and can't even buy a quart of milk

It's an American thing. Immigrants will stay at home well into their 40s.

 

[Mr210]

I dont believe those numbers

 

[ridedolo]

sounds like lack of access to capital/jobs mixed with poor spending habits. Reminds me of this article.


• "Blacks on the average are six times more likely than Whites to buy a Mercedes, and the average income of a Black who buys a Jaguar is about one-third less than that of a White purchaser of the luxury vehicle." Earl Graves, Black Enterprise Magazine

A Question for Black People... What's Your Focus?

 

[beenz]

I see it at my job ( we ain't 6 figure nikkas tho ) my girl used to be a manager at those shytty payday loan places and she saw people with nice ass incomes getting those terrible loans regularly

How do you blow money to the point where you need to get a loan marked up to damn near double






And I didn't say most people were, you're arguing just to argue.

a payday loan is nothing more than a legalized loan shark.

if it were the mafia doing this, they'd call it a racket. but I guess it's ok for predatory lending as long as uncle sam gets a taste of it.

 

[CrimsonTider]

Bad spending habits

There's people well into 6 figures that live check to check, people make more money and spend more money instead of living the way they lived before they were making a lot of money.

One of the dumbest things I see people do is buy nice ass cars while still paying another nikka rent. You could've put that money towards a house and had something that doesn't depreciate to show for it but you rather try to look nice on the street for nikkas that don't give a shyt about that outside of a quick glance or two

You're turning this into something else just to argue

62% of Americans aren't living below the poverty line or single parents.

A large percentage of that 62% have bad spending habits.

Ignore the fact that the number cause of bankruptcy is medical bills to further your ignorant narrative that people don't spend money how you think they should

 

[Luck]

Ignore the fact that the number cause of bankruptcy is medical bills to further your ignorant narrative that people don't spend money how you think they should

Yea 62% of Americans don't have $1k in savings primarily because of medical bills

You're either dense or live under a rock if you don't believe that spending is a huge problem in the capitalist Capitol of a the world.

Believe what you want to believe but don't quote me with dumb shyt