Current Events > 69% of Americans have less than $1,000 in savings

(+) Yeah! (+)

https://www.fool.com/retirement/2019/12/18/the-percentage-of-americans-with-less-than-1000-in.aspx

Also

Worse yet, 45% of Americans say they have $0 in savings. That's right -- not so much as a dollar socked away in a bank account.

---

I don't have a savings account but I do have like 11.5k in my checking

---

Honestly, I'm not surprised. Most people spend way beyond their means. Just suck to be poor but it's self inflicted.

---

69% of

Nice.


---

I can't imagine not having any money in an account at all, that is terrifying.

---

Nice.

...Wait, no that's actually not nice.

---

I may not be rich, but this makes me glad I have at least some money squirreled away

^_^

---

Politics posted...

I don't have a savings account but I do have like 11.5k in my checking

Why don't you have it in savings? You'd make about $230 a year doing nothing. It's not much, but it's better than not getting anything like you currently are.

---

Let's see how stupid and ill prepared for the future CE is. How much money do YOU have saved up in case shit happens? Post your age,too

---

Not surprised seeing all these brand new cars on the road. Also consider the fact that the average 6 figure millennial owns a supercar.

Son Of Spam posted...

Why don't you have it in savings? You'd make about $230 a year doing nothing. It's not much, but it's better than not getting anything like you currently are.

I think that's a fairly gratuitous estimate on the rate of return from a savings account.

---

tremain07 posted...

Let's see how stupid and ill prepared for the future CE is. How much money do YOU have saved up in case shit happens? Post your age,too

34

About $60k between all of my accounts

A little less than half of it is cash on hand.

---

WIth rent and bills its damn near impossible to save more than 100 bucks.

I need a better job than a call center

---

Which makes sense since most Americans are living paycheck to paycheck. Also, some people have things to pay off. Like I could probably have more in my savings as I'm working two jobs and making decent money (for my area) at both. But I want to get my car paid off. And maybe buy a house... depending...
---

Machete posted...

69% of

Nice.

Umbreon posted...

Nice.

...Wait, no that's actually not nice.

---

LinkPizza posted...

Which makes sense since most Americans are living paycheck to paycheck. Also, some people have things to pay off. Like I could probably have more in my savings as I'm working two jobs and making decent money (for my area) at both. But I want to get my car paid off. And maybe buy a house... depending...

Stop making excuses for them they're like this because they're ignorant and foolish so they deserve whatever happens to them

---

PIITB415 posted...

Honestly, I'm not surprised. Most people spend way beyond their means. Just suck to be poor but it's self inflicted.

Stop blaming the victims of greedy employers, victims of the recession, victims of poor education, and victims of our deeply flawed economic policy.

---

Me and my wife have roughly 40k in savings but it took a few years to get there.

I have 2k

---

wiiking96 posted...

Stop blaming the victims of greedy employers, victims of the recession, victims of poor education, and victims of our deeply flawed economic policy.

We have the highest wages in the world (save like two small countries) and a relatively low cost of living, stop downplaying our spending habits.

tremain07 posted...

Stop making excuses for them they're like this because they're ignorant and foolish so they deserve whatever happens to them

Even if you're right that most poor people are poor because they're ignorant and foolish, why do you think some people are ignorant and foolish? People are a product of their environment. No child chooses to grow up under a terrible education system or in a poor family.

---

Broseph_Stalin posted...

We have the highest wages in the world (save like two small countries) and a relatively low cost of living, stop downplaying our spending habits.

Those statements are incredibly unhelpful without specific data.

And you are aware of how terrible the US' healthcare system is, correct?

---

I actually have negative dollars due to my account getting hit by monthly overdraft fees after it initially zeroed out.

Think its -$300 or so by now.
---

wiiking96 posted...

Those statements are incredibly unhelpful without specific data.

What don't you understand about us having some of the highest wages in the world?

And we also have a pretty low cost of living because of low regulations and no VAT tax. Healthcare cost aren't enough to wipe that out.

"Highest wages in the world" - compared to like Nigeria and Vietnam.

---

tremain07 posted...

Stop making excuses for them they're like this because they're ignorant and foolish so they deserve whatever happens to them

I mean, some people are stuck living paycheck to paycheck. Living like that means it's hard to save much, if anything at all... And people do have a lot to pay off. College in the US is expensive. People can spend most of their lives after college just trying to pay it off... People wouldn't waste money on college if they didn't need to, but many jobs want you to have a degree, even if it's worthless for that job...
---

Hexenherz posted...

"Highest wages in the world" - compared to like Nigeria and Vietnam.

Well, no actually. There are more countries than Nigeria and Vietnam, a lot more!

wiiking96 posted...

Even if you're right that most poor people are poor because they're ignorant and foolish, why do you think some people are ignorant and foolish? People are a product of their environment. No child chooses to grow up under a terrible education system or in a poor family.

Thank you, its not even easy for everyone to leave where they grew up. Not everyone is gonna be the one that got away.

---

Inferno Dive Dragoon posted...

I actually have negative dollars due to my account getting hit by monthly overdraft fees after it initially zeroed out.

Think its -$300 or so by now.

Not that it's ever an issue for me, but I asked my bank to remove my overdraft protection. I'd rather my debit card be declined than be charged $35 for being over a couple of dollars.

---

Yeesh I worked my ass for the last 3 years working 2 jobs to build up my savings and pay off my dept.

I got friends struggling with no savings if not less than a 1000 bucks but they always go into their savings to pay for things they never could increase the amount.


---

Broseph_Stalin posted...

What don't you understand about us having some of the highest wages in the world?

Does that matter, though. Like, my family back home makes more than I do where I currently am, but also have a higher cost of living. So, a higher wage is more money, but can be about the same somewhere else because we may also have a higher cost of living. My family could live like royalty (exaggeration) making the amount they do while living here. But they would make way less.

Where I would be in serious poverty living there with the money I currently make here. But live fine due to the lower cost of living...
---

Wages matter when talking about a person's financial situation, yes. Cost of living should be factored in as well, but again the US doesn't have a particularly high cost of living. We have a very progressive income tax system and low sales taxes (most European nations have a standard 20% rate).

I'm always surprised by how many people think we have it bad in the US. Grass is greener syndrome.

A savings account is not used by most people, many just have a checking account. My primary account has 25K in it which I always have access to as that is the checking account

That said I have 80k in one account, and 360k in another.

I am 32 years old.

---

Blocked

---

Son Of Spam posted...

Why don't you have it in savings? You'd make about $230 a year doing nothing. It's not much, but it's better than not getting anything like you currently are.

Lol how'd you get that? He'd be luck to get $50 in a year

---

Ive actually managed to break the 1k mark in my savings account even though I pay out of pocket for school.

---

Broseph_Stalin posted...

Wages matter when talking about a person's financial situation, yes. Cost of living should be factored in as well, but again the US doesn't have a particularly high cost of living. We have a very progressive income tax system and low sales taxes (most European nations have a standard 20% rate).

I'm always surprised by how many people think we have it bad in the US. Grass is greener syndrome.

I never said we had it bad. Though, I don't think our cost of living is super low, either. That would include a lot of stuff. Including health care, which is pretty expensive and bad in the US. And the way people with more money buy tons of houses just to rent helps to keep people with less money as poor as they can. And gentrification in certain areas probably doesn't help... And if you add college into it, it goes up pretty high again...
---

tremain07 posted...

Let's see how stupid and ill prepared for the future CE is. How much money do YOU have saved up in case shit happens? Post your age,too

$14,000 savings
$13,000 checking
$18,200 401k
$1,000 cash

Age 30. Single af but enjoying it.

---

Broseph_Stalin posted...

Wages matter when talking about a person's financial situation, yes. Cost of living should be factored in as well, but again the US doesn't have a particularly high cost of living. We have a very progressive income tax system and low sales taxes (most European nations have a standard 20% rate).

I'm always surprised by how many people think we have it bad in the US. Grass is greener syndrome.

Seriously, so many people are spoiled and stupid. The US is paradise compared to the rest of the world and these fat fucks still complain. Pathetic

tremain07 posted...

Let's see how stupid and ill prepared for the future CE is. How much money do YOU have saved up in case shit happens? Post your age,too

$1XX,XXX in my simple IRA
$2X,XXX in my checking
$5,XXX in savings
$5,XXX in a CD

32 and married

---

These topics I wonder if everyone here is actually rich, or is it that only the well-off people feel comfortable posting their numbers?

---

smoke_break posted...

These topics I wonder if everyone here is actually rich, or is it that only the well-off people feel comfortable posting their numbers?

No one here is rich.

$400,000 in a savings account ain't shit

---

smoke_break posted...

These topics I wonder if everyone here is actually rich, or is it that only the well-off people feel comfortable posting their numbers?

A couple, but anyone that's rich and on this site still doesn't have a future

---

smoke_break posted...

These topics I wonder if everyone here is actually rich, or is it that only the well-off people feel comfortable posting their numbers?

I believe it's the second. I've been in many topics on this board, and it's normally the well off people that post numbers. Or brag about how a lot of money isn't a lot.

Also, if you listen in other topics, you'll notice how most people who aren't well off mention things like how they don't have enough to spare on certain things. Or how some repair is going to cost more than they have. Which, if it were the people that posted certain amounts, it wouldn't matter as much to them...

Not to mention, for the ones in the US, the average American is living paycheck to paycheck. So unless it's only the rich people in the US and people from other countries in here, it's probably the choice...
---

So there was a time when I had more savings than the majority of Americans despite being broke shit.
---