Current Events > The average American saves less than 5% of his or her disposable income

(+) Yeah! (+)

Or at least that's what this websight says: https://www.nerdwallet.com/blog/banking/american-personal-saving-rate/

That means I'm better than your average American. I know my privilege and I check it every day. What about you, buddy? HOW ABOUT YOU?

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The average american has disposable income?

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MI4 REAL posted...

The average american has disposable income?

rip

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You should be saving at least $3000 a month. If people were doing this like I told them to they wouldn't have been needed government assistance during the lock downs.

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Many americans don't make $3000 a month.

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REMercsChamp posted...

You should be saving at least $3000 a month. If people were doing this like I told them to they wouldn't have been needed government assistance during the lock downs.

Uhh how are you gonna 3k a month when most Americans don't even make that much a month?

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Veggeta X posted...

Uhh how are you gonna 3k a month when most Americans don't even make that much a month?

That's your problem to figure out

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Veggeta X posted...

Uhh how are you gonna 3k a month when most Americans don't even make that much a month?

organs are worth at least that much right? i've got pairs of a couple, maybe sell them?

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monkmith posted...

organs are worth at least that much right? i've got pairs of a couple, maybe sell them?

You're better off selling plasma/blood. You might get 50 bucks at a time.

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Just say, "Their," for fucks sake

With that said, yeah, Americans in general are trash at saving money because they're so addicted to materialistic things

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Bad_Mojo posted...

Just say, "Their," fuck fucks sake

With that said, yeah, Americans in general are trash at saving money because they're so addicted to materialistic things

Consumers goin' consume. If I want a fucking good ass juicy steak then imma go get one. YOLO

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I'm a poor a saver. Guilty as charged. You can't make me not buy Chainlink (okay, it's kinda expensive now...)! You can't make me leave my minuscule wealth in monopoly money! I refuse! Crypto is the future!!!
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REMercsChamp posted...

You should be saving at least $3000 a month. If people were doing this like I told them to they wouldn't have been needed government assistance during the lock downs.

Most people have nowhere near that kind of money to save up. Hell most Americans dont even make that much a month after taxes.

Only way most people can save that is if that person is rich and has a high income or they live in mommy and daddys house

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Yeah I'm probably around 5%-ish. There are just so many better things to do with money than put it in a piggy bank, like put it in something that actually outpaces inflation.

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DevsBro posted...

Yeah I'm probably around 5%-ish. There are just so many better things to do with money than put it in a piggy bank, like put it in something that actually outpaces inflation.

Like what? I have enough invested in CDs and mutual savings and 401ks and things like that.

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My net worth puts me at the 90th percentile for my age group. We need to do better as a nation as far as savings goes. I dont feel like I should be that high.

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The reason for that is simple. The system is designed to keep you spending as much as possible just to survive. Whenever consumer spending goes down, the economy retracts. If spending goes down too much, you get a recession. So if all of America started saving that amount of money, the economy would collapse because it's built on people spending endlessly, even if they are in debt.

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Is it true that boomers could live comfortably simply on minimum wage back in the days? They could afford a house, a family, go on family vacations and still have a decent savings? I can't ever see that being a thing ever again here.

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Hard to save disposable income when you don't have any

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NinjaWarrior455 posted...

Hard to save disposable income when you don't have any

stop eating, that's at least $50 a month right there.

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Veggeta X posted...

Like what? I have enough invested in CDs and mutual savings and 401ks and things like that.

If you can do 401k, chances are that's by far your best option. Next is usually Roth IRA. After that, it's a matter of your situation. Like for me, homeownership and a 529 for Little DevsBro.

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monkmith posted...

stop eating, that's at least $50 a month right there.

You only need 1 bowl, 1 plate, 1 fork, 1 spoon, 1 knife and a glass. Just wash them when you're done and sell the rest for money

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I genuinely don't understand how people are broke past a certain age. Assuming they haven't had a life changing/financially crippling issue it's on them.

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I'm saving like 30% of my money and I'm only bringing home about 1800 per month. Splitting rent with my bro and having my car paid off in full now really helps.

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PIITB415 posted...

I genuinely don't understand how people are broke past a certain age. Assuming they haven't had a life changing/financially crippling issue it's on them.

My issue is that I can't do job interviews because all my answers and short and to the point, which makes me a great worker, but they want all this fluff that I can't do.

I may not get paid a lot, but I don't spend money on hardly anything

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PIITB415 posted...

I genuinely don't understand how people are broke past a certain age. Assuming they haven't had a life changing/financially crippling issue it's on them.

I think you know why. I mean you come to a video game websight. We are all gamers and you know being a gamer can be costly.

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Veggeta X posted...

I think you know why. I mean you come to a video game websight. We are all gamers and you know being a gamer can be costly.

No, that's not the reason. Most people are just incredibly bad with finances

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Well, buying a ton of games on Steam and never playing them is bad IMO.

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Veggeta X posted...

I think you know why. I mean you come to a video game websight. We are all gamers and you know being a gamer can be costly.

At a certain point in the last 20 years or so, video gaming became dirt freakin cheap. Isn't that why we have a backlog crisis?

As players for whatever reason started demanding 60+ hour playtimes and flash sales pushed prices down to single digits, oh yes, you can with little effort find video games that you can play for pennies an hour.

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You can't just count the games. There's all the hardware that comes to video gaming, the subscriptions and other things we don't factor in.

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PIITB415 posted...

I genuinely don't understand how people are broke past a certain age. Assuming they haven't had a life changing/financially crippling issue it's on them.

the system requires that some people be broke

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A lot of my friends are doing a lot of side gigs along with their normal jobs bringing in a lot of money. Meanwhile I'm just being a 9-5 hoe.

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Veggeta X posted...

You can't just count the games. There's all the hardware that comes to video gaming, the subscriptions and other things we don't factor in.

Also dirt cheap. A couple hundred, a thousand, two thousand dollars if you really want to get extravagant, lasts a thousand hours easily as long as you don't buy at launch. Hardware is actually cheaper than software.

And subscriptions are not necessary.

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PIITB415 posted...

No, that's not the reason. Most people are just incredibly bad with finances

if everyone were good with finances, there wouldn't be less poverty. there would just be more poor people who are good with finances lol

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But our economy is based off us consuming. If we stop buying needless shit American would be worst off.

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