re: The Percentage of Americans With Less Than $1,000 in Savings Is Shocking

That’s because you give a shite. And someone probably raised you to do so. Don’t over extend yourself and keep to a budget. Don’t lay money down on things you can’t afford. That is soooo hard for most people these days and yes, it’s easy to do. I have two kids, both in their 30s. The oldest is a miser and makes the most out of her and her husbands salary. My youngest was all about not letting money burn a hole in his pocket but has finally realized you don’t get shite for free.

I’ve had that numerous times recently.

However, the 401k is healthy and chugging along

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Today's American economy is booming. 3 % unemployment rate. Stock market at an all-time high. And sadly, $1K for savings is not achievable for 69 % of Americans.

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The American people and the American government have two things in common, neither have a revenue problem and both have a huge spending problem.

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How old are you?

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Mid Thirties.

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UBI incoming.

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UBI is going to absolutely destroy this country if and when it is ever passed.

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And sadly, $1K for savings is not achievable for 69 % of Americans.

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Define achievable. I would wager a guess that a majority of these folks have the ability to save money. They make financial decisions with their money that inhibits that. I understand some people legitimately can't, but I don't think it's anywhere near 69%.

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I know people in banking and they can confirm the OP statistics

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I don't think the stats are wrong. I think he's calling bullshite on 69% of people not having the means to have saved over $1000.

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The smart folks of the OT and Money boards often poo-poo Dave Ramsey, but his advice will work for every single one of these folks who are illiquid and drowning in debt.

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I was there at one point not terribly long ago...high income but no cash and high debt. today I am debt free with a variety of investments that either produce income or can be used to make other investments

accumulating money is not a worthwhile goal for an uncluttered life...it is only a means to a more satisfying end. What is a worthy goal however is not to be indebted to others

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Human-centered capitalism is what we should use moving forward.

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Use whatever you want but people will always find a way to be frick ups. People are making bad decisions and too many people are willing to make excuses for themselves or others. Live paycheck to paycheck? You don’t need a new $1,000 phone every year. You can’t afford to eat out all the time. Stop buying new cars/clothes/entertainment/etc. so often.

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Where do you think that $1K/month is coming from?

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I wouldn’t try to discuss anything with that jackass. He’s a pure troll on other boards so I’m sure he is here too.