Aug 9 - New study says 64% of Americans have less than $1,000 in the bank

08-11-2012, 12:32 PM

Originally Posted by Andrefrbk

Wow thats absolutely fuking terrible!

To be honest i took my savings out of the bank a long time ago, i might move it to a credit union. I dont deposit a lot of money in the bank. In and out asap.

If we were to have a collapse, the banks could hold on to my money. LEGALLY. So its best to keep some on deck if you can safely.

Bottom line though most Americans not having 1k to their name is kinda dangerous. And it also means that most Americans are living pay check to pay check. If something were to happen like an emergency idk, transmission failure, boiler broken the avg American is going to put it on a credit card. And we wonder why niccas are in so much debt.

I dont have any outstanding debt or serious lines of credit. Learned my lesson when i was 19... SMH took me forever to pay for 3k worth of junk i bought. I was charging everything man. FUK YOU CAPITAL ONE!

[pic] This happened to me as well! [pic]

08-11-2012, 12:41 PM

hahaha... yeah, I admit it.. less than a grand in that bad boy right now..

life's been a !!ing wild[..] ride these past few years.. it is what it is... !! it..

12:45 PM

Why the !! are y'all keeping money in a bank? !! a collapse. What if the power go out in your city for a couple of weeks? Can't get money out the ATM and can't use a card at the store. People k#ll me. And if the economy does collapse what the !! you gone do with cash?! !! will be useless. Lol better have some gold and silver. And people forget about liquor. I got 20 bottles of 120 proof vodka in my closet. I can trade it or use it for fuel. Get you some bottom shelf liquor and some cigarettes lol

Anyway I'm in that boat. The wife and I got about 3700$ together. But I got fired back in December. And we got two toddlers. Smh don't have kid people. They bleed you dry. Hopefully this new business I'm venturing into will payoff. !! working for someone else.

08-11-2012, 12:45 PM

Originally Posted by chi town hustla

ducktales
you cant even !!in subtract [pic]

[pic] My bad, wasn't paying attention.

08-11-2012, 12:55 PM

Originally Posted by TheKastOne

Yes x 25 but I owe about 20k in student loans

why not pay that off if u done with school so they dont keep r@ping u [pic]

im in the 36% but just started cla#s again so gonna have hella loans [pic]

08-11-2012, 01:04 PM

To the people that have more then that much how much you make a year are somebody paying your bills are u living with someone etc.?

01:30 PM

I got like 5k in my bank but I'm Canadian

08-11-2012, 01:14 PM

The way I save is by having 10% of my bi-weekly check direct deposited in my credit union. This way I do not see the transfer and dont really know whats coming out. I hide my card from myself as well so it would have to be a real emergency for me to break it out. Just paid off student loan im in a good place, im not doing any store credit cards or not straight debit.

08-11-2012, 01:22 PM

Part of the 36%. Thanks to good savings and family. It's hard as hell though and hopefully we can get out of this and we can turn this statistic around.

08-11-2012, 01:22 PM

I got about $950 saved up. I kept my money in a shoe box until earlier this week. My mom didn't want me to keep it there in case someone broke into our house. And she let me have control over the account now.

I got serious about saving last December. Whenever I make money I'll set aside half for spending and the other half is to save. Only thing I'm buying right now is a pair of shoes for school and probably won't buy anything else until the top of next year. I can't be like the other kids, buying every new J and Foam that comes out.

08-11-2012, 01:47 PM

a nicca stayz over the $1000 threshold every month

08-11-2012, 01:51 PM

I'm lucky to have a great job so...I have a safety net of money.

08-11-2012, 01:56 PM

Under, but that's because I've been aggressively paying down my credit cards. Went from 104% utilization to 72%. After my bonus at the end of the month i should be back under 50%. I need to put something away though for an emergency at some point

08-11-2012, 01:57 PM

Lots of youngins in here...wait until you are married with a kid, a car note,student loans, and mortgage...im sure you'll see that 64% then...

08-11-2012, 02:06 PM

part of the 36% here...

08-11-2012, 02:13 PM

[pic]i got less -but im not hungry

08-11-2012, 02:23 PM

Originally Posted by I.J.

To the people that have more then that much how much you make a year are somebody paying your bills are u living with someone etc.?

$52,000. Pay my own bills. Live with a roommate.

08-11-2012, 02:30 PM

my girl has an account for her direct deposit and for paying bills.. the rest of that !! i keep in various stash spots i got.. !! a bank

08-11-2012, 02:53 PM

I'd like to know more data, I was talking about this with some friends today and they said they were part of the 64%. But, they both have partners who have a heck of a lot more than 1k in the bank. Are young people in college in this, too? It seems like a shockingly large percentage though.

08-11-2012, 02:55 PM

36% but not by a lot.

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