Posted on 04/01/2014 9:01:03 PM PDT by blam
Nearly Half Of Us Couldn't Live A Month On Our Savings
Trae Bodge , RetailMeNot's The Real Deal
Apr. 1, 2014, 5:56 PM
April is Financial Literacy Month (and dreaded tax time), so let’s talk about your financial know-how. Are you financially prepared if you need to stop working for a few months due to a layoff or illness? Do you know how much money you have lying around? What about your kids? Are you setting them on a path to financial health?
RetailMeNot recently polled more than 1,000 Americans and found that overall consumers are doing pretty well on the personal finance front. As it turns out, Americans are savers: A whopping 80% have money set aside, and on average, the savings would last over eight months with no other income.
Pretty impressive! But our survey did reveal a few areas of concern:
•While a vast majority of consumers we polled have a financial safely net, nearly half don’t have enough money saved to live on for more than a month without an ongoing source of income.
•About 25% with a savings account don’t know how much is in it!
•Only 51% are confident in the knowledge or understanding of their personal finances.
•Only 22% are confident that they will be able to retire at the time and in the style they were hoping for.
(snip)
(Excerpt) Read more at businessinsider.com ...
Don't be a tax paying Slave.
Uh, I’m pretty sure that half the U.S. is living on our savings.
Wages have been stagnate for about 15 years now...Millions lost jobs, cut back, hours reduced, etc....All while most things have double or nearly doubled in price, including fuel, food, taxes, etc., etc...
How were people supposed to save in this economic meat grinder?
Yea. What’s the point?
And they voted for 0bama. Are you surprised?
Bammy’s Fault.
Ping.
What savings?
How long can you live without access to your savings?
Certainly in some US climates, a >12 mo. reserve is indicated.
The Key here is “Electronic Savings”, how many have Cash/Gold/Silver/Food Supplies/Potable Water/Fuels and last but not least lead and the means & guts to use it if needed?
Those ATM’s will be useless.
Well THAT'S a problem.
Public Utility water? electricity? Natural Gas? Vehicle fuel?
I am tired of all this gloom-and-doom stuff.
We need to crush our enemies.
Hard assets Gold and silver for some, but food stocks, medicines, household goods, water purification equipment and supplies, guns, ammo amd so on. Trade barter goods, skills and knowledge.
Fools.
Well for me it's a couple of years (if they don't get me first).Think long term for your future. If you think rapture will take care of your future needs, just remember it hasn't thus far.
IT’S BECAUSE YOU’RE STOOPID!!
I make 4% more now than I did 10 years ago. I’ve even added a Bachelor’s Degree to my resume. Had I decided to not spend 4 years in college, I would have been making at least 19% more. Almost every day I wonder why I wasted the time in college for a piece of paper.
The only hope I have is that by 50, I will be making more than I would have made without a degree. My initial goal was to walk to a Porsche dealer with enough money to buy a Porsche 911 Turbo with cash at 40. Now, I’ll be lucky to buy used at 50.
The upside is that I work in an industry which is acutely tuned to market change and we’re busier than we can handle. Most markets are on the upswing, but it does appear to be more a function of depreciation/worn-out-s417 than an uptick in the economy. People are replacing their worn out stuff because they have to, to survive, rather than replacing it because times are good.
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