- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
About 36% of U.S. adults say they have less than $1,000 in their savings accounts.
For analysis of the political views of that media: https://ground.news/article/over-half-of-americans-say-theyre-not-even-close-to-financial-freedom
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Not too long ago the number was around 50% and not having $500 in the bank, so at least this is technically an improvement
That was actually a study that was completely misrepresented by the media. What the people actually said in the study is that if they were presented with an unexpected expense of $500, they would charge it, not that they didn’t have the money. But then unscrupulous mukrakers took that study and reported it as “50% of Americans say they don’t have enough cash to cover an unexpected $500 expense!”. There are plenty of valid reasons to charge an unexpected expense, regardless of how much money you have in the bank.
Oh wow that’s wild
Edit: No, that doesn’t seem to be the case. I’m seeing multiple sources (go banking, bankrate, Princeton) all corroborating the lack of savings. It looks like bankrate does the surveys annually too: https://www.bankrate.com/banking/savings/emergency-savings-report
Bankrate doesn’t ask the savings number directly so that’s maybe what you were seeing, but go banking does:
“Methodology: GOBankingRates surveyed 1,002 Americans aged 18 and older from across the country on between January 30 and February 1, 2023, asking six different questions: (1) How much savings do you have?; …”
Removed by mod
Hmm that looks like a nice wallet. Wonder which one it is.
With the interest rates of savings accounts why bother. Just leave it in checking. Or cash.
Or are we trying to act surprised most people don’t have money?
it’s just further evidence that the rot in the economy is reaching a critical point. either some socdems push through reforms so the system can limp on or we’ll hit the 3 days of missed meals tipping point.
So instead of 1% interest your suggestion is 0% interest?
savings and COD are 4-5+% right now.
Interest rates are like 5%
Democracy is when everyone is desperately poor no matter how hard or smart they work.
Which is still better than having extremely poor and extremely wealthy people.
I should have clarified. In Amerikkka, there is a large number of extremely poor people (proletariat), a small number of people who are doing better and who therefore believe that capitalism is normal (labor aristocrats and petite bourgeoisie), and a tiny minority of haute bourgeoisie who control the country and think that it’s funny and strange that anyone supports them.
what’s a saving account? /s
