6 out of 10 Americans have less than $500 in their savings account; how about you?f

[FukYaFeelings]

My family is dumb with money. For people making a decent wage, it is as simple as saving money regularly and not on frivolous shyt.

If it's that simple then almost 4,200,000 Americans wouldn't have less than $500 in their account.

 

[Panther]

At y'all nikkas.

If it was that easy to save money most of us wouldn't have grown up with not so well of parents.


"All u gotta do is put a percent of ur paycheck in the bank "


Y'all parents must be dumb cuz it ain't that easy.

Y'all sounding real

Breh the problem is that most people don't get taught how to manage money. Their parents live above their means and paycheck to paycheck and pass that on to their kids.

It really is a simple fix. The difficult part is waking people up from the consumerism/materialist matrix. People GOTTA have a new car, or have to get the latest iPhone or go on vacation. They aren't willing to sacrifice anything to put themselves in a better position.

Only gets worse when they have kid(s) and their paycheck is stretched out even further

 

[Truefan31]

At y'all nikkas.

If it was that easy to save money most of us wouldn't have grown up with not so well of parents.


"All u gotta do is put a percent of ur paycheck in the bank "


Y'all parents must be dumb cuz it ain't that easy.

Y'all sounding real

It is easy, it's just that people don't wanna hear the truth sometimes. Live on less than you make, that's basically it. These things should be taught in high schools, people would be better off. But the system in the US is a credit, debt-based economy, so they don't want you being well off with money in the bank for savings. They want you having credit cards, car payments, house payment/rent, student loans, etc cuz that's how they make money off you.

 

[Mr210]

Lots of ignorance in here

 

[Rell Lauren]

Currently at five figures. 25% of each check goes into it every pay period. If I have projects which require overtime and the check is juicy enough, I'll put 30% in.

 

[patscorpio]

I live pretty comfortably...

 

[mamba]

I had almost 150k in the bank until I put down 70k on my house

Spoiler

Second house

Did you really need to spend that much on a 2nd house? $350k for a 2nd house?

If it's being used as a rental property, you would have been better off getting a duplex or a small apartment building in a low-income area.

That 70k (or ar least a good bit of it) could have been invested in an asset class with a greater ROI.

I'm not pocket watching. Just trying to understand the reasoning.

 

[无名的]

Did you really need to spend that much on a 2nd house? $350k for a 2nd house?

If it's being used as a rental property, you would have been better off getting a duplex or a small apartment building in a low-income area.

That 70k (or ar least a good bit of it) could have been invested in an asset class with a greater ROI.

I'm not pocket watching. Just trying to understand the reasoning.

We have a home in LA that was 600k that turned into a rental by necessity after we left the state, but still profitable. Then just bought another one for 525.

The LA house should be able to sell for 700 once the tenants are out, so I'm good with the ROI after 2 years

 

[the cac mamba]

i have that in my pocket i cant imagine this shyt

 

[mamba]

We have a home in LA that was 600k that turned into a rental by necessity after we left the state, but still profitable. Then just bought another one for 525.

The LA house should be able to sell for 700 once the tenants are out, so I'm good with the ROI after 2 years

 

[jazzfan]

I know plenty of people making 30 bucks an hour that don't have $500 in savings which is insane as hell to me. I make the least of anyone I know but I have the most saved up. Struggle to live on 60k-100k (overtime boost) while others stack money on just barely over 40k in the Cali Bay Area brehs!
The lesson I've learned is that it's not how much you make but what you do with what you do make.

 

[Mr210]

I know plenty of people making 30 bucks an hour that don't have $500 in savings which is insane as hell to me. I make the least of anyone I know but I have the most saved up. Struggle to live on 60k-100k (overtime boost) while others stack money on just barely over 40k in the Cali Bay Area brehs!
The lesson I've learned is that it's not how much you make but what you do with what you do make.

So powerful yet will be ignored

 

[4-Rin]

I know plenty of people making 30 bucks an hour that don't have $500 in savings which is insane as hell to me. I make the least of anyone I know but I have the most saved up. Struggle to live on 60k-100k (overtime boost) while others stack money on just barely over 40k in the Cali Bay Area brehs!
The lesson I've learned is that it's not how much you make but what you do with what you do make.

Saving while living off 40k in the bay? What's the secret

 

[ryderldb]

Saving while living off 40k in the bay? What's the secret

Gotta be living at home.

 

[LiIZaneFan1978]

let's just say, I aint starvin

Bro if u got tips then share em

Each one teach one

Foh otherwise, no one was wondering if u were starving or not