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

08-11-2012, 03:01 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.?

I work freelance so my salary is unst@ble, but I make a good living for 22. I pay several bills + help my mom out every month.

08-11-2012, 03:33 PM

I don't [pic]......f*ck it niccaz got bills

08-11-2012, 03:41 PM

Part of the 36%.. My Personal Account is bout 5k and the Joint One with the Wifey is bout 50k.. No Kids, No Debt, .. Its all about the hustle and how much you want that paper... I have a 9-5 plus a Hobby (DJ) that pays good $$$ every friday and sat...Do what you gotta do

08-11-2012, 04:21 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.?

i make $32,000 a year base but overtime pushes it to a measly $36,000. im just good with my dough... moved to an apartment right outta high school wit my 2 best friends while working at Sonic (high school job) and my current local gov't job... <----it aint !!, i drive a trash truck, HAHAHAH!!!! stacked my money to the ceiling when we was all splitting the bills equally, saved over $1000 a month back in them days... bought my house at 23 yrs old and just now getting back on my feet from that... my 2nd son on the way though so thats gonna set me back a lil. fully furnished house, big shed, 3 cars (including my fiance's), all at 25 yrs old... not too shabby. my credit score is outstanding though...

liitle note about raising your credit... if you're good with finances and you're thinking about gettin roommates, put all the bills in your name if they can be trusted and you can afford. pay them !!s on time and your credit will skyrocket...

08-11-2012, 04:25 PM

my savings account is lookin pretty damn !!ty but i'm not workin or anything right now my school schedule !! that up ima work it out tho [pic]

08-11-2012, 04:49 PM

Y'all are inspiring me to sell some bull!! I got so I can raise my $750 to 1K+.

As for not putting money in the bank, the only way I'd do that is if I had a super duty fireproof safe located somewhere nobody knew about. Robbery, fires, and natural disasters just scare me too much.

08-11-2012, 05:56 PM

$80 in the bank, 6 figures in the shoe box.[pic]

08-11-2012, 06:53 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.?

40k base 10% commission and quarterly bonus. I pay half the bills and live with my dad.

08-11-2012, 07:37 PM

Originally Posted by kool aid

$80 in the bank, 6 figures in the shoe box.[pic]

bawse!!

08:46 PM

Originally Posted by Screwhead

Monopolized banks, you should say.

Gold and/or silver coin is a much better way of saving & investing money.

yeh... I got some money invested in gold... and silver...

08-11-2012, 10:06 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.?

I have 2 jobs...9-5 base of 60k plus 1% commission on about 200k in sales a month...plus I have my own business which is all profit since I operate from home and make anywhere from 3-7k a month depending on how many jobs I take in...pay my own bills, plus my moms bills, own a house in Long Island NY with my gf who makes almost 100k a year and we split the mortgage/tax/utilities and both car payments 50/50...

Unless you're not working or make minimum wage I don't see how you can have less than 1k in the bank...especially if you're living at home and working you should be stacking half that every month.

08-12-2012, 05:16 AM

For those who asked how we have more than 1,000 in the bank. I'm married, dual income no kids, we pay the bills ourselves, own place. The better question is what do they do for a living.

08-12-2012, 08:29 AM

of that 64%, 45% are users who post on here

just playing hahaha

08-13-2012, 03:27 PM

64% here. But my car is paid off and I am a homeowner of a new house, so I have something to show for :)

08-13-2012, 06:14 PM

Tax the capitals gains of the 1% and give it to that 64% in a negative tax cut.

08-14-2012, 01:12 AM

Originally Posted by KNerd

You don't get it do you. Yes its insured by the FDIC but they don't have money sitting in an account incase that happens. Why don't you ask AIG how insuring money went. You don't seem to understand the reality of the global banking system at all

Quit trying to kick knowledge when you know nothing at all. AIG didn't insure money imbecile. Do your homework before making a lame argument. You obviously don't get it yourself. But I can see why you're mad, since you're one of the broke ones thinking the bottom loses more than the top.

03:05 AM

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!

The way !! is going the currency ain't gonna be worth !! soon it seems anyway. All the inflation, debt, and devaluation we got going on.[pic] Gotta thank the elite for all the globalization bull!!.

08-14-2012, 04:09 PM

part of the 64%[pic]

08-14-2012, 04:28 PM

Originally Posted by Doe Sun

Quit trying to kick knowledge when you know nothing at all. AIG didn't insure money imbecile. Do your homework before making a lame argument. You obviously don't get it yourself. But I can see why you're mad, since you're one of the broke ones thinking the bottom loses more than the top.

"A subsidiary of AIG wrote insurance in the form of credit default swaps, meaning it offered buyers insurance protection against losses on debts and loans of borrowers, to the tune of $447 billion. But the mix was toxic. They also sold insurance on esoteric[..]et-backed security pools – securities like collateralized debt obligations (CDOs), pools of subprime mortgages, pools of Alt-A mortgages, prime mortgage pools and collateralized loan obligations. The subsidiary collected a lot of premium income and its earnings were robust.

When the housing market collapsed, imploding home prices resulted in precipitously rising foreclosures. The mortgage pools AIG insured began to fall in value. Additionally, the credit crisis began to take its toll on leveraged loans and it saw mounting losses on the loan pools it had insured."

I'm not mad at all. I own a house, an m5, and have money saved up. I do just fine for myself. I just hate when people act like banks are a good thing. The FDIC's sole purpose is to keep people from withdrawing their money from banks. If massive bank runs started happening the Federal Reserve would have printing presses running on overdrive

08-14-2012, 06:14 PM

Originally Posted by KNerd

You don't get it do you. Yes its insured by the FDIC but they don't have money sitting in an account incase that happens. Why don't you ask AIG how insuring money went. You don't seem to understand the reality of the global banking system at all

The FDIC is a corporation, and has an account called the Deposit Insurance account which does hold a balance. They also hold cash & U.S. treasury securities, and also have a pretty big credit line with the treasury.

[pic] AIG, doesn't insure money, they wrote policies that would payout in the event of a default or credit event.

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