I blame social media to a degree, people have their priorities all out of proper order. Saving $1000 dollars is not that hard to do unless you are living beyond your means. I have sympathy for those who truly have been dealt the short end of the stick, but most people just don't care to save or prepare for a rainy day.
62% of Americans have less than $1000 in savings
- Thread starter Koba St
- Start date
You have to spend everyday in America, so while you are waiting on your next pay check your spendng money while nothing is coming in, so most people are already in in the negative once they get their checks because bills are due and they've been spending money all week prior to getting paid..
just
Thats why its important to stack while you are young and have no responsibilities, if i knew what I knew now, I would've just started working at mcdonalds at 15, in ten years I could've retired at 25 just by saving and investing the money while have no bills lmao
dora_da_destroyer
Master Baker
poor savings have long plagued America preceding social media and extends beyond the typical age range of those who are easily influenced by lifestyles portrayed on social media. It’s simply a function of poor financial literacy (and planning) along with a large segment of the population that’s underpaid or underemployed
Actually6Foot3
Veteran
People living above thier means.
Just had a convo on christmas with my older bro who is pretty irresponsible with money.
Dude is 30 and spends all his money on bars, dates, clubs, eating out and designer shyt. Currently 7k-10k in debt on CCs with barely anything saved but works 5 days a week.
If he thinks im bailing him out in the future hes in for a rude awakening.
Not setting myself on fire to keep anyone else warm.
Retailers did just find this holiday season in a couple try where people can't afford a small emergency.
Just had a convo on christmas with my older bro who is pretty irresponsible with money.
Dude is 30 and spends all his money on bars, dates, clubs, eating out and designer shyt. Currently 7k-10k in debt on CCs with barely anything saved but works 5 days a week.
If he thinks im bailing him out in the future hes in for a rude awakening.
Not setting myself on fire to keep anyone else warm.
Retailers did just find this holiday season in a couple try where people can't afford a small emergency.
dora_da_destroyer
Master Baker
If you’re not getting 2%, at least regarding the past year as interest rates have gone up, that’s on you. Too many high yield savings accounts out there to be settling for old school 1% and less accounts. Stop banking with these old banks and get an online savings account. Money is almost as easily available (~2 day transfer) as that in savings at brick and mortars, or you can get a debit card with some of these accounts and just get cash out.
Best Savings Accounts and Rates of December 2018 | Bankrate.com
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I can agree with that, but saving $1000 is no great accomplishment. Teenagers can do that, to me it's beyond not being financially astute.
1970s HeRon Flow
Takin Penitentiary Chances
I've had capitol one 360 for 2 years now and they offer 2% no minimum as well as .2% on checking , completely freewhat average savings account is 2%
It's not an accomplishment but it lowkey is considering most don't have this saved up. Tax return season will soon be coming and that'd be ideal time to start saving up
Saysumthinfunnymike
VOTE!!!
u really should have over $1000 because even that isn't going to solve an emergency. u could have a car issue and it'd run u over a g easy
Saysumthinfunnymike
VOTE!!!
one of my good friend's parents bought this big dream home a couple years back. They easily make close to $200K a year and their kids are grown but they ain't got shyt saved because of a few reasons and when these "rainy day" emergencies occur they are 
because
- house maintenance is more than they first thought
- taxes are higher than they were
- they eat out often at fancy places
- they buy German cars that are always in the garage
- they buy other random shyt for the house and yard to impress their friends
- they take expensive vacations
because - house maintenance is more than they first thought
- taxes are higher than they were
- they eat out often at fancy places
- they buy German cars that are always in the garage
- they buy other random shyt for the house and yard to impress their friends
- they take expensive vacations
posterchild336
Superstar
Ever looked into day training ?10k?
If I dip anywhere below 100k, I'm shook. Really, really shook. I don't flash my money, but the fact that people prior to 2008 had decent savings (over 40k) to the crisis we face now, the standard of living has dropped while the cost of living has doubled.
We need a revolution that takes the corporations accountable for their greed. That's the only way.
Most HYS accounts are 2 percent.what average savings account is 2%
I just moved my money to an online savings account with Discover Bank.
$100 a year for every 5k