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

[hegemony]

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

[shifter]

So only 33% live paycheck to paycheck but 45% have no savings? What do the other 12% have a money tree in their backyard? 

[centex]

1 hour ago, shifter said:

So only 33% live paycheck to paycheck but 45% have no savings? What do the other 12% have a money tree in their backyard? 

They park around the corner from the intersection and then go panhandle when the need strikes them...

[Burgerwars]

What people say and what people really have are two different stories. If they called me and I said I'm 900 quadrillion dollars in debt, doesn't make it true. Worse yet, if they took my 900 quadrillion and added it in to what all Americans owe, their next article will say the average American is hundreds of millions in debt.

[hegemony]

Americans expect to burn through their savings quickly

[TheVig]

Things I've seen today that tell me many don't have so much as $20 saved.

 

1. Saw a nice family today finally cleaning the inside of their car today. They were scraping it for change. Had a jar on the roof of car to place said change.

 

2. Neighbors discussing they are piss broke until a check comes to stimulate them.

 

3. Two neighbors approached me asking where would be a good spot within reasonable walking distance to hide their cars from the repo man.

 

4. Tenants having friends and family moving in. I guess splitting the rent 20 ways helps lower costs. I'm told apartment management is gonna start to fix this on Monday before it gets out of hand. Our leases have wording that deals with this. Moratoriums or not. I suspect, some obscure occupancy fire codes are gonna get used to send people packing. 

 

In other news, this social experiment we are all in right now has inspired me to prepare a nice eastern bloc meal for dinner.

 

 

 

 

[Burdell]

7 hours ago, TheVig said:

Things I've seen today that tell me many don't have so much as $20 saved.

 

1. Saw a nice family today finally cleaning the inside of their car today. They were scraping it for change. Had a jar on the roof of car to place said change.

 

2. Neighbors discussing they are piss broke until a check comes to stimulate them.

 

3. Two neighbors approached me asking where would be a good spot within reasonable walking distance to hide their cars from the repo man.

 

4. Tenants having friends and family moving in. I guess splitting the rent 20 ways helps lower costs. I'm told apartment management is gonna start to fix this on Monday before it gets out of hand. Our leases have wording that deals with this. Moratoriums or not. I suspect, some obscure occupancy fire codes are gonna get used to send people packing. 

 

In other news, this social experiment we are all in right now has inspired me to prepare a nice eastern bloc meal for dinner.

 

 

 

 

Getting harder and harder to hide from the repo man.  Most cars manufactured within the last 7 years or so have GPS systems and black boxes, and they phone home until the loan is paid off.  Many even have kill switches so if you stop paying, the car won't work.  In another 5-10 years, the cars will just drive themselves back to the dealer if you stop payments. But by about that time, the whole concept of car ownership will begin to change, and most people may just subscribe to autonomous car services.

[IndyPoolPlayer]

8 hours ago, Burdell said:

Many even have kill switches so if you stop paying, the car won't work.

That's mostly in the BHPH markets.

8 hours ago, Burdell said:

they phone home until the loan is paid off.

I've often wondered about GM's OnStar system and whether it does this

[oldblue]

Buddy that normally makes comments like you got money why don't you buy a nice new truck or a nice house with some land. Said hes going to have to start giving handies for $20 if work doesn't pick up. Hes an essential service but they're slow because of demand so his hours are cut drastically.

[TheVig]

56 minutes ago, oldblue said:

Buddy that normally makes comments like you got money why don't you buy a nice new truck or a nice house with some land. Said hes going to have to start giving handies for $20 if work doesn't pick up. Hes an essential service but they're slow because of demand so his hours are cut drastically.

 

IME people that make comments like that are typically on the brink even when times are good.

[cv91915]

I have $30.11 in my US Senate FCU savings account.