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Most Americans have 'alarming' amount in savings

En tråd i 'Banking - Investing - Finances' startet av Rye83, 11 Okt 2016.

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  1. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    http://aol.it/2dKsCLw

    Most Americans have less than 1k USD in savings...even those making over 100k a year. How much of this is because of the economy and how much is because of p*ss poor financial planning is not mentioned in the article. I think it is more of being an idiot, especially those in the higher income brackets.

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    Rye83, 11 Okt 2016
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  2. cabb

    cabb DI Forum Patron Highly Rated Poster ✤Forum Sponsor✤

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    Surprising......
     
    cabb, 11 Okt 2016
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  3. Show Pony

    Show Pony DI Forum Patron Highly Rated Poster Showcase Reviewer

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    It's called living beyond your means. When people making 100 K plus fall into that low level of savings they obviously made some expensive choices.
    Banks are the modern day slave masters.
    On a slightly off topic note; here credit card companies charge about 42% per annum. If your card has an outstanding balance the interest will be charged against all purchases from the date of purchase until there is no outstanding balance for 2 consecutive months.
    I don't know if they have that practice in the U.S. but that's a bottomless pit if ever there was one.
     
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    Show Pony, 11 Okt 2016
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  4. cabb

    cabb DI Forum Patron Highly Rated Poster ✤Forum Sponsor✤

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    Average Credit Card Interest Rates (APR) - 2016

    Average ranges from 15%-20% in US.
     
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    cabb, 12 Okt 2016
    #4
  5. OP
    OP
    Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    Not really surprising to see that difference. You are much more likely to get paid back in the US. Debt collection here is probably one of the most dangerous jobs a person could sign up for. I'd sign up to be a drug dealer long before I ever give recollections a go.

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    Rye83, 12 Okt 2016
    #5
  6. TheDude

    TheDude DI Forum Patron Highly Rated Poster

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    What are they getting for their money? McMansion? Obesity? Hot showers? These guys are getting ripped off. In poker, we call that throwing good money after bad.

    Suckers. :wink:
     
    TheDude, 13 Okt 2016
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  7. Mikala

    Mikala DI Member Blood Donor Veteran Navy

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    Personally I keep about 1k USD in my wallet for immediate emegencies. While in Korea, I kept about $25k in a shoebox for an emergency exit. Most of my friends earn more than $100k a year and have substantial savings, plus a house and decent cars. I guess this article doesn't apply to engineers? My annual earnings? Don't ask, don't tell... :smile:
     
    Mikala, 13 Okt 2016
    #7
  8. birdwatch

    birdwatch DI Forum Adept

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    I save in pesos and leave just a little bit of yen for emergencies. We like eating out and good beer so it's not good to save here in Japan tbh. I don't ask about my bf's money but his company pays for the apartment, free car and gas, and he makes it sure that santa comes every Christmas! Anyway, my future is secure (Philippine standards), with or without a bf/husband. ^0^
     
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    birdwatch, 13 Okt 2016
    #8
  9. OP
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    Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    Where was it again that you live? :sneaky:
     
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    Rye83, 13 Okt 2016
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  10. Mikala

    Mikala DI Member Blood Donor Veteran Navy

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    Either at my ranch on the Big Island of Hawaii, condo in Vegas or avoiding traffic in Dumaguete (if I'm not gallivanting the world). :smile:
     
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    Mikala, 13 Okt 2016
    #10
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