The average person spends 45k per year

[Heafcliffe]

Yet the average American has roughly $6,000 in their savings account. It really makes you wonder what people actually own in America.

20% of Americans don't have a savings account. Of the remaining, roughly 50 to 60% don't eem have $1k in their savings.

Maybe those that don't fit that criteria have tons in their savings to skew numbers.

 

[sayyestothis]

As of 2014, an average person spends$3,735 per month. This monthly average amounts to $44,820 per year and this is approximately $5,000 less than the average consumer spent in 2007, when the average was $49,648

I checked my BOA app and last year I spent 28k...4,800 for moving out so I shouldn't be nearly as bad this year and 3,800 last month but half went to bills.
How much yall spend?

I didnt even think the average American made that much, let alone NET that much to spend. Even if you made 40k a yr u wouldnt be actually taking home 40k after taxes, etc.

 

[Richard Wright]

Exactly, y'all steady working till you die. How Sway?

Realize that you need money in order to flip. If you save $5,000 per year in a 401(k) beginning at age 25 and earn a 6 percent annual return on your investments, you would reach age 65 with a nest egg of $798,741. If you begin saving $5,000 per year at age 40 and earn the same return, you'll hit age 65 with just $283,161. In fact, even if you save $10,000 per year beginning at age 40, you'll still end up with significantly less money ($566,315) than if you started saving $5,000 per year in your mid-20s.

Fail to understand the difference between a savings account and a 401k brehs.

To get assets in your 401k you have to spend
Obe

Your kids could use that money when you die

Be a family man in 2017 brehs

 

[Tommy Fits]

Does that include rent/mortgage payment

 

[AlwaysLurkin]

Does that include rent/mortgage payment

Yea,mine included everything...from bills to food.

 

[Larry Lambo]

Yet the average American has roughly $6,000 in their savings account. It really makes you wonder what people actually own in America.

That doesn't factor in investment accounts, CD's, money markets.

 

[Larry Lambo]

$40K-$45K is about where I'm at. After tax income is $62K

$19.5K on mortgage
$4.5K on car note
$3K on groceries
$3K on entertainment/dining/travel
$2K on gasoline
$1.5K on electric/natural gas
$1.5K on cable/internet/phone
$1K on car insurance
$1K on car maintenance
$1K on home maintenance
$1K on medical needs

The rest on random ish

 

[The Devil's Advocate]

$40K-$45K is about where I'm at. After tax income is $62K

$19.5K on mortgage
$4.5K on car note
$3K on groceries
$3K on entertainment/dining/travel
$2K on gasoline
$1.5K on electric/natural gas
$1.5K on cable/internet/phone
$1K on car insurance
$1K on car maintenance
$1K on home maintenance
$1K on medical needs

The rest on random ish

exactly... and that doesn't even factor in months you spend more... people paying higher rent, more on their car/insurance, more on travel, more on their phones/cable/internet

and you didn't even throw in kids


or misc bullshyt purchases that add up.... plus things like birthdays, dates, christmas, emergencies that pop up


etc etc etc

 

[Wild self]

exactly... and that doesn't even factor in months you spend more... people paying higher rent, more on their car/insurance, more on travel, more on their phones/cable/internet

and you didn't even throw in kids


or misc bullshyt purchases that add up.... plus things like birthdays, dates, christmas, emergencies that pop up


etc etc etc

That's why another recession is imminent.

 

[Red11]

Fail to understand the difference between a savings account and a 401k brehs.

To get assets in your 401k you have to spend
Obe

Be a family man in 2017 brehs

WTH does that mean?!