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76% of Americans are living paycheck-to-paycheck
CNN Money ^ | June 24, 2013 | Angela Johnson

Posted on 06/24/2013 10:11:12 AM PDT by rightwingintelligentsia

Roughly three-quarters of Americans are living paycheck-to-paycheck, with little to no emergency savings, according to a survey released by Bankrate.com Monday.

Fewer than one in four Americans have enough money in their savings account to cover at least six months of expenses, enough to help cushion the blow of a job loss, medical emergency or some other unexpected event, according to the survey of 1,000 adults. Meanwhile, 50% of those surveyed have less than a three-month cushion and 27% had no savings at all.

--snip--

Last week, online lender CashNetUSA said 22% of the 1,000 people it recently surveyed had less than $100 in savings to cover an emergency, while 46% had less than $800. After paying debts and taking care of housing, car and child care-related expenses, the respondents said there just isn't enough money left over for saving more.

(Excerpt) Read more at money.cnn.com ...


TOPICS: Business/Economy
KEYWORDS: 113th; bho44; bhoeconomy; economy; emergencysavings; paychecktopaycheck; poverty; savings
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1 posted on 06/24/2013 10:11:12 AM PDT by rightwingintelligentsia
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To: rightwingintelligentsia

Now that’s what I call “Progressive”. Ain’t progress grand?


2 posted on 06/24/2013 10:12:10 AM PDT by yobid (Catastrophic failure is the only pathway for improvement)
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To: rightwingintelligentsia

Economy, finance not taught from junior high. PLUS, the Federal Government and OBAMA WANT it this way. They want a nation of idiots, who cannot fend for themselves, and must suck on the bureaucratic teat of Washington DC to survive, to live as modern day serfs serving a megalomaniac.


3 posted on 06/24/2013 10:12:43 AM PDT by AmericanInTokyo (Kim Jong Un won't have a single "bad underwear day" unless/until we've a patriot in the White House)
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To: AmericanInTokyo

You are correct. Bath House Barry despises savers and those who can fend for themselves. “Bitter clingers” he calls us.


4 posted on 06/24/2013 10:13:53 AM PDT by fwdude ( You cannot compromise with that which you must defeat.)
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To: yobid
So Obama and democrats want to pass an Amnesty bill that will give 30 million illegals Amnesty and allow them to bring in their extended family from the 3rd world to take what money and job we have left.

call to stop the Amnesty bill

5 posted on 06/24/2013 10:14:45 AM PDT by Democrat_media (IRS rigged election for Obama and democrats by shutting down tea party)
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To: rightwingintelligentsia

Probably closer to 95%. Rich people spend their money, too. Their mortgages are 10 times mine and their cars are BMW’s and jags...not a 10 year old Toyota.


6 posted on 06/24/2013 10:15:13 AM PDT by Sacajaweau
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To: rightwingintelligentsia

I might add that those who do have money in saving are losing at least 3% of it every day as the interest paid to them is 0.10%, and inflation is 4%.


7 posted on 06/24/2013 10:18:25 AM PDT by Venturer
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To: rightwingintelligentsia

The other 24% are living EBT to EBT card............


8 posted on 06/24/2013 10:18:26 AM PDT by Red Badger (Want to be surprised? Google your own name......Want to have fun? Google your friend's names........)
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To: rightwingintelligentsia

Because they’ve sucked us dry. I’m still paying taxes over a year later to include interest and penalties. Bringing in millions more illegals we’ll have to support will break us.


9 posted on 06/24/2013 10:19:01 AM PDT by bronxville (Margaret Sanger - “We do not want word to go out that we want to exterminate the Negro population,)
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To: rightwingintelligentsia

But they money for liquor, cigarettes, drugs, cable, data plans, iPhones, iPads, and lottery tickets.....


10 posted on 06/24/2013 10:19:52 AM PDT by Kozak (The Republic is dead. I do not owe what we have any loyalty, wealth or sympathy.)
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To: Kozak

But they have...


11 posted on 06/24/2013 10:20:37 AM PDT by Kozak (The Republic is dead. I do not owe what we have any loyalty, wealth or sympathy.)
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To: fwdude

The whole economy is based on people being ignorant.


12 posted on 06/24/2013 10:21:14 AM PDT by dfwgator
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To: Kozak

I wonder how many of them got a large EITC check and what they spent it on?


13 posted on 06/24/2013 10:21:24 AM PDT by Oldexpat
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To: rightwingintelligentsia

...and three quarters of that three quarters probably buy Super Lotto tickets on a regular basis.


14 posted on 06/24/2013 10:21:41 AM PDT by ErnBatavia (Piffle....)
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To: Kozak

Tattoos, can’t forget those.


15 posted on 06/24/2013 10:21:56 AM PDT by Kozak (The Republic is dead. I do not owe what we have any loyalty, wealth or sympathy.)
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To: rightwingintelligentsia

50% of Americans are getting that paycheck for Uncle Sam, so they have nothing to worry about, right?


16 posted on 06/24/2013 10:22:31 AM PDT by SampleMan (Feral Humans are the refuse of socialism.)
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To: rightwingintelligentsia

And thus it’s always been this way...


17 posted on 06/24/2013 10:22:50 AM PDT by Vendome (Don't take life so seriously, you won't live through it anyway)
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To: Kozak

And $2k-a-piece rims on their ghetto cars. A must-have.


18 posted on 06/24/2013 10:24:23 AM PDT by fwdude ( You cannot compromise with that which you must defeat.)
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To: rightwingintelligentsia
76% of Americans are living paycheck-to-paycheck

.....but, it's for the children.

19 posted on 06/24/2013 10:24:31 AM PDT by Puppage (You may disagree with what I have to say, but I shall defend to your death my right to say it)
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To: rightwingintelligentsia

obama/democrats better force these people to buy health insurance...


20 posted on 06/24/2013 10:24:34 AM PDT by MulberryDraw (That which cannot be paid, won't be paid.)
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To: rightwingintelligentsia

Between ridiculous taxes, my 401(k) being gutted, having to pay for all medical expenses not covered by insurance on a child that was injured in a car wreck (insurance thinks once a brain injury child is released there is no cognitive rehab needed and expenses to get there), vehicle repairs, choosing to bite the bullet and put our remaining two kids in private school after a bullying incident, the price of gas and everything else we have lost much of our cushion and are below the 6 month number. It is what it is, as long as NObama and his entourage can go on vacations though I am happy, not.

We chose to pay everything without getting any extra cc or long term debt. Haven’t been on an actual vacation in over 6 years.


21 posted on 06/24/2013 10:24:43 AM PDT by Resolute Conservative
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To: rightwingintelligentsia

Fuel prices up 2 1/2 times what they were when bozo took office, hiked SS taxes on my income and my wife’s income, pay raises stagnant, property taxes and insurance up, food prices up.

Thanx Obozo, thanx a bunch.


22 posted on 06/24/2013 10:24:45 AM PDT by servantboy777
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To: rightwingintelligentsia

They could simply have their assets in other than sub-inflation savings accounts. Also, they may well have lines of credit and family and other resources to buffer a few years of income disruption, let alone six months’ worth.


23 posted on 06/24/2013 10:27:25 AM PDT by 9YearLurker
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To: yobid

ObaMao is deeply saddened because it isn’t 99%.


24 posted on 06/24/2013 10:27:44 AM PDT by Vigilanteman (Obama: Fake black man. Fake Messiah. Fake American. How many fakes can you fit in one Zer0?)
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To: Sacajaweau

“Rich people spend their money, too”

Most rich I know go broke within a few years. The best savers I know are the ones that make $150+K and are used to a lesser income. They usually have modest homes and cars.


25 posted on 06/24/2013 10:33:14 AM PDT by CodeToad (Liberals are bloodsucking ticks. We need to light the matchstick to burn them off. -786 +969)
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To: bronxville

This is couter-intuitive, but at this point, I hope Amnesty DOES get shoved down our throats.

The fiscal collapse is inevitable, I’d rather see it sooner than later, and hit hard. Amnesty will make it sooner, rather than later, and hard, not soft. It’s bitter medicine, but the sooner we get it over with, the sooner we can rebuild. It WILL act as good dose of chlorine in the swimming pool of the body politic. . .


26 posted on 06/24/2013 10:38:30 AM PDT by Salgak (http://catalogoftehburningstoopid.blogspot.com 100% all-natural snark !)
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To: rightwingintelligentsia

Nearly Half of Americans Are ‘Financially Fragile’

Wednesday, May 25, 2011 1:46:22 PM · by rightwingintelligentsia · 143 replies
Wall Street Journal Blogs ^ | May 25, 2011 | Phil Izzo
Nearly half of Americans say that they definitely or probably couldn’t come up with $2,000 in 30 days, according to new research, raising concerns about the financial fragility of many households. In a paper published by the National Bureau of Economic Research, Annamaria Lusardi of the George Washington School of Business, Daniel J. Schneider of Princeton University and Peter Tufano of Harvard Business School used data from the 2009 TNS Global Economic Crisis survey to document widespread financial weakness in the U.S. and other countries. The survey asked a simple question, “If you were to face a $2,000 unexpected expense...

 

 

When this article came out - I called BS on that claim that people couldn't even come up with 2 grand. But more than a few FReepers told me I was wrong, and that they and lots of people they know couldn't scratch together $2000 even if they had a whole month to do so.

27 posted on 06/24/2013 10:41:59 AM PDT by Responsibility2nd (NO LIBS. This Means Liberals and (L)libertarians! Same Thing. NO LIBS!!)
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To: rightwingintelligentsia

I don’t know how this could be true with our booming economy. Barack?


28 posted on 06/24/2013 10:42:59 AM PDT by DoughtyOne (Kennedy: Today I am a Berliner / Reagan: Gorbachev tear down this wall / Obama: I can't read this...)
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To: rightwingintelligentsia
...I must be very much in the minority for saving virtually everything I was making when I had a job.

I still have a couple of thousand in the bank.

29 posted on 06/24/2013 10:43:27 AM PDT by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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To: rightwingintelligentsia

They should filed for a refund....

The amount of money the IRS sent to alien workers in 2011 totals more than $46 million in tax refunds.

These 23,994 unauthorized alien workers all listed this one address in Atlanta, Georgia. You can view the audit report here by the Treasury Inspector General for Tax Administration.

CNN reports there were 10 address from around the country and 4 of them were in Atlanta.

The IRS sent 11,284 refunds worth a combined $2,164,976 to unauthorized alien workers at a second Atlanta address; 3,608 worth $2,691,448 to a third; and 2,386 worth $1,232,943 to a fourth.

The IRS has has been knowingly facilitating the ability for Unauthorized Aliens to work illegally in the United States for almost fourteen years according to the Treasury Inspector General’s Semiannual Report to Congress.

Other locations for singular addresses used simultaneously by thousands of unauthorized alien workers are as follows:
•Oxnard, Calif, where the IRS sent 2,507 refunds worth $10,395,874
•Raleigh, North Carolina, where the IRS sent 2,408 refunds worth $7,284,212
•Phoenix, Ariz., where the IRS sent 2,047 refunds worth $5,558,608
•Palm Beach Gardens, Fla., where the IRS sent 1,972 refunds worth $2,256,302
•San Jose, Calif., where the IRS sent 1,942 refunds worth $5,091,027
•Arvin, Calif., where the IRS sent 1,846 refunds worth $3,298,877

PLEASE COPY AND FORWARD THIS TO ALL YOUR FRIENDS AND SHARE THIS LINK BELOW WE NEED TO GO VIRAL WITH THIS INFORMATION.
READ THE 51 PAGE REPORT AT THIS LINK:

http://www.treasury.gov/tigta/auditreports/2012reports/201242081fr.pdf


30 posted on 06/24/2013 10:43:42 AM PDT by ncfool (Obama's aMeriKa 2012 The land of entitlement for the 51% crowd.)
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To: rightwingintelligentsia

‘”Nothing helps you sleep better at night than knowing you have money tucked away for unplanned expenses.” ‘
Trazodone works pretty damn good for me.


31 posted on 06/24/2013 10:43:45 AM PDT by Rannug ("God has given it to me, let him who touches it beware.")
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To: rightwingintelligentsia

Makes ya wonder where they’re gonna come up with cash for Obamacare premiums. Not everyone will get a subsidy.


32 posted on 06/24/2013 10:45:26 AM PDT by informavoracious (We're being "punished" with Stanley Ann's baby. Obamacare: shovel-ready healthcare.)
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To: rightwingintelligentsia

And gov’t is the reason: It wasn’t too long ago that one person in the household could have a job outside of the home and STILL provide for food, mortgage, car, vacation, education, etc. etc.

What’s changed? The amount of TAXES/fees one has to pay. When anyone has to pay 50%+ of their ‘free’ exchange of labor for money to GOV’T (plus food, gas, rent/mortgage, etc.), one is no longer a Free person but chattel


33 posted on 06/24/2013 10:46:57 AM PDT by i_robot73 (We hold that all individuals have the Right to exercise sole dominion over their own lives - LP.org)
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To: CodeToad
$150 +....That would be my daughter and hubby makes the same...

they saved and saved and finally bought a summer home at Cape Cod. So they got rid of some of their savings and are racking up rental money, too. They just can't win!!

34 posted on 06/24/2013 10:49:15 AM PDT by Sacajaweau
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To: Resolute Conservative

Just when I want to add to the litany of complaints, a person posts living with far more burdens than I have. I’ll just say this....I wish you and your family well and will pray things get better. I have no complaints. Take good care.


35 posted on 06/24/2013 10:49:57 AM PDT by SueRae (It isn't over. In God We Trust.)
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To: rightwingintelligentsia
We had emergency savings in 2008. Nobody expected the President to deliberately prolong the emergency for this many years.
36 posted on 06/24/2013 10:52:49 AM PDT by Mr. Jeeves (CTRL-GALT-DELETE)
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To: rightwingintelligentsia

Interesting the number is so high. Sets Americans up for a Valley Forge moment in massive numbers. Only this time the deserters will have nowhere to run except toward their own demise.


37 posted on 06/24/2013 10:52:59 AM PDT by no-to-illegals (Scrutinize our government and Secure the Blessing of Freedom and Justice)
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To: AmericanInTokyo

Some of the best economic advice I got in school was in 3 years of HS auto-mechanics.


38 posted on 06/24/2013 10:53:35 AM PDT by wally_bert (There are no winners in a game of losers. I'm Tommy Joyce, welcome to the Oriental Lounge.)
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To: rightwingintelligentsia

Hollywood and Madison Avenue. You are nobody unless you’re famous and LOOK rich. My in-laws were looking to move. I got on the Internet and started looking at houses. I was curious, so I looked at the interior photos of some expensive houses. They had crappy furnishings. Nobody went inside their homes. It was all show.


39 posted on 06/24/2013 10:55:49 AM PDT by blueunicorn6 ("A crack shot and a good dancer")
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To: SueRae

Thank you. We will get by. I have been gainfully employed since I was 15 (even worked full-time in college) and will do what is necessary, thankfully I am secure where I am unless the whole economy tanks, in which case everyone will be hurting worse. We sit around and bemoan about once a week then its back to work and all the other things we do to raise the last 2 of 5. The Lord has blessed us when we have needed it with what He thinks we needed.

If we were to have a lot extra we would be confused anyway since we have never had it :)


40 posted on 06/24/2013 10:58:07 AM PDT by Resolute Conservative
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To: Salgak

I agree with that. It’s no use pretending that we can outrun this thing (out of control government). It’s going to get us, so we might as well turn and face the beast.


41 posted on 06/24/2013 11:10:59 AM PDT by ClearCase_guy
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To: ErnBatavia
I found a cool "Lotto" website that allowed you to simulate playing PowerBall and MegaMillions.

I ran 10's of thousands of iterations. Never hit for more than the 'small' ($2, $10, etc) prizes. Not really surprising, but it was interesting to see just how ridiculously unlikely hitting the lotto is.

The site tracked winnings. As an aside, if you choose to play, odds on the Megamillions are marginally better, and pick the 'double play' (or whatever it's called) where the cost of a ticket doubles, but the payout doubles as well. Over a long, long term (1000's of plays) payout on double plays is about 20c on the dollar.

Great racket. Guaranteed to lose 80c on the buck, but people still throw millions at it each week. Truly, there is one born every minute.

42 posted on 06/24/2013 11:19:31 AM PDT by wbill
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To: Resolute Conservative

Hang in there. I thank the Lord every day because I know we are blessed. All our friends and family have seen some really tough times and I have helped them if I could and/or knew that the help would actually help them. I have seen many people who are in bad shape because of their own actions, doesn’t sound like you.
Bless you and your family.


43 posted on 06/24/2013 11:30:18 AM PDT by sheana
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To: ncfool

Add several more million addresses to which the IRS sent fraudulent Earned Income “Tax Credit” payments and you’re talking real money (tens of billions).


44 posted on 06/24/2013 11:35:20 AM PDT by House Atreides
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To: sheana

I see friends/relatives getting new trucks/cars every 2-3 years or so, ATV’s or other toys, new houses every 10 years or so, going on vacations to Florida/Hawaii/skiing, I just refuse to spend the money or borrow to do it. Our only splurge is martial arts for one child and one competitive sport for the other.


45 posted on 06/24/2013 11:35:49 AM PDT by Resolute Conservative
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To: rightwingintelligentsia

Wait unil ObamaCare and the immigration fiasco kicks in.....


46 posted on 06/24/2013 11:53:26 AM PDT by headstamp 2 (What would Scooby do?)
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To: rightwingintelligentsia

If less than 25% have money left over after paying the bills, at least obama knows who to go after to pay more taxes

but he’s gonna run out of “rich people” (anyone with savings) soon


47 posted on 06/24/2013 11:55:33 AM PDT by silverleaf (Age Takes a Toll: Please Have Exact Change)
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To: AmericanInTokyo
Economy, finance not taught from junior high. PLUS, the Federal Government and OBAMA WANT it this way. They want a nation of idiots, who cannot fend for themselves, and must suck on the bureaucratic teat of Washington DC to survive, to live as modern day serfs serving a megalomaniac.

Economic freedom is freedom.

I don't know that the Democrats have done this on purpose, because they're too inept, but they have certainly capitalized on it, and make no effort, and even discourage efforts of people who want to be self-reliant and fiscally responsible.

That's why the Tea Parties are such a threat. If the majority of people understood economics, and knew the damage caused by deficit and wasteful spending, a whole lot of politicians would lose their jobs, and their gravy trains would be gone.

48 posted on 06/24/2013 11:55:56 AM PDT by Repealthe17thAmendment (Is this field required?)
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To: rightwingintelligentsia
76% of Americans are living paycheck-to-paycheck

When did CNN figure this out?

49 posted on 06/24/2013 11:59:08 AM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: rightwingintelligentsia

Ah, yes, the Obama economy at work.


50 posted on 06/24/2013 12:00:19 PM PDT by bigredkitty1 (March 5,2010. Rest in peace, sweet boy. I will miss you, Big Red.)
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