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

[bigesco]

I got around 50K in my account and Im completely debt free. And honestly I thought I was doing pretty bad but it seems Im doing alright after all. Money stress is the worst stress of all.

 

[brother walt]

-160.45 savings
54.00 checking
22.00 available credit on cc
bank of America



-546.00 money market account
Amoco credit union


getting married September 30th,honey moon October 1-4

 

[Morose Polymath]

How much I have in my savings is none of your mutha fukkin business

 

[Larry Lambo]

That's still probably gonna put u around 60% of people having less than $500

No it wouldn't. Because the amount of total people doesn't change but now u add those with money outside of savings account.

 

[Trill McClay]

It's 2017, if you're aren't at least saving 10-15% of your monthly income, you are setting yourself up for hard times.

Hell, you can even start smaller than that and save 5% of your income every other pay period and then increase the percentage once you have built consistency.

 

[EndDomination]

Can't relate, but that's just out of being savvy.
I'm sure it is like this for most Americans.

 

[EndDomination]

Misleading statistic. You could have millions in savings and have nothing in a savings account, especially with savings accounts offering virtually nil in interest. At one point at I had $40K in cash and investments without a penny in an actual savings account.

The better stat would be what people have saved up in Money Markets, Investment/Trading accounts, and Checking Accounts. But that's not how the question has been phrased in any of the articles I've read on it.

Most Americans don't have those either.
You know how many people don't even have savings accounts?

 

[Sunalmighty]

If the shyt hit the fan I have an Roth and my wife has a Roth with betterment. I have my 401k that I can cash out and 4900 in my personal.

 

[mamba]

Same.

I agree overall with the idea that people need to save more but in addition to that, if you have more than $500 parked in a Savings account earning ~0.05% then you are not too good with money either imo. Especially with the markets in a Bull run.

That's true.

But, you do want to keep a certain amount liquid, even if it's only earning pennies in interest.

 

[Sunalmighty]

700 including insurance ain't shyt..

my MORTGAGE is 734.10 WITH property taxes and insurance

 

[ThaBronxBully]

-160.45 savings
54.00 checking
22.00 available credit on cc
bank of America



-546.00 money market account
Amoco credit union


getting married September 30th,honey moon October 1-4

You're In Trouble My Guy, Change Your Bad Financial Habits ASAP

 

[ThaBronxBully]

If the shyt hit the fan I have an Roth and my wife has a Roth with betterment. I have my 401k that I can cash out and 4900 in my personal.

Breh No

So Your Emgency Plan Is To Cash Out Retirement And Have The Money Pulled Out Raped And Taxed?

 

[duckbutta]

America is moving closer and closer to a 3rd world country with 1st world window dressing

 

[brother walt]

You're In Trouble My Guy, Change Your Bad Financial Habits ASAP

I don't have none

 

[ThaBronxBully]

I don't have none

The Way You Laid Everything Out It Sounds Like You're Broke And Getting Married Via Debt

You're Gonna Resent That Marriage When You're Still Making Payments On It 5 Years From Now