New study says 64% of Americans have less than $1,000 in the bank
- Thread starter thernbroom
- Start date
Family Man
Banned
Crackkkas and c00ns like yourself love using the outliers to paint a picture of the whole. You should be ashamed of yourself if you are a black man.I was afraid that this topic was going to start diving into race, but those who are talking about that shyt in here are ignoring the 64% statistic. This is a problem with the country as a whole. The whole Jordans and iPads argument doesnt hold weight here.
As far as those who believe you cannot build wealth saving, do you realize how silly that sounds? Sure, investing your money does provide you with a higher return if you play your cards right, but if you are not even in that situation you are going to sit there and tell me that I might as well just take care of an emotional need with the final $50 in my bank account instead of saving it till the next paycheck? That right there is what annoys me about people in our age group (20's). We are stuck in this whole make a killing immediately...if not then just enjoy yourselves right now at all costs.
The entire system has people stretching themselves to a point in which there is absolutely no downtime. Last week I talked to my cable provider and those a$$holes had the NERVE to tell me that I needed to sign a 1 year contract for my internet...and I am like for what? What are you subsidizing? Why the fukk should I commit to something with absolutely no benefit on my end?
The teller had no response to what I was saying and just patched me through to a "supervisor". Some of you really need to start asking yourself some questions about your lifestyle. The same idea applies...YEAH YOU CAN "BUY" it, but can you really afford it? Is stretching yourself so thin worth it when chances are there are alternatives to fit your needs?
The iPhone argument, meh...its not so much the phone its the way people go about it to aquire these items. You can buy an iPhone out of contract and throw it on Straight Talk for $45 a month. Problem is that people are impatient...they want the iPhone immediately and get locked into those ridiculous 2 year contracts without realizing they can be saving a good amount of money if they just planned it beforehand without a ridiculous etf.
Back to that $50 every 2 weeks...that is $1,300 a year and I am willing to bet that any full time working person will be able to do that with almost no changes in their lives. Have a gf/bf? Well then chances are BOTH of you will be able to save a little more than double that per check...so now you are looking at about $500 per month potentially saved...$6,000 a year...in 2 years that is a down payment on a cheap house somewhere in the midwest. At the very least a rent or lease to own option if your credit is fukked.
People annoy the fukk out of me.
As far as those who believe you cannot build wealth saving, do you realize how silly that sounds? Sure, investing your money does provide you with a higher return if you play your cards right, but if you are not even in that situation you are going to sit there and tell me that I might as well just take care of an emotional need with the final $50 in my bank account instead of saving it till the next paycheck? That right there is what annoys me about people in our age group (20's). We are stuck in this whole make a killing immediately...if not then just enjoy yourselves right now at all costs.
The entire system has people stretching themselves to a point in which there is absolutely no downtime. Last week I talked to my cable provider and those a$$holes had the NERVE to tell me that I needed to sign a 1 year contract for my internet...and I am like for what? What are you subsidizing? Why the fukk should I commit to something with absolutely no benefit on my end?
The teller had no response to what I was saying and just patched me through to a "supervisor". Some of you really need to start asking yourself some questions about your lifestyle. The same idea applies...YEAH YOU CAN "BUY" it, but can you really afford it? Is stretching yourself so thin worth it when chances are there are alternatives to fit your needs?The iPhone argument, meh...its not so much the phone its the way people go about it to aquire these items. You can buy an iPhone out of contract and throw it on Straight Talk for $45 a month. Problem is that people are impatient...they want the iPhone immediately and get locked into those ridiculous 2 year contracts without realizing they can be saving a good amount of money if they just planned it beforehand without a ridiculous etf.
Back to that $50 every 2 weeks...that is $1,300 a year and I am willing to bet that any full time working person will be able to do that with almost no changes in their lives. Have a gf/bf? Well then chances are BOTH of you will be able to save a little more than double that per check...so now you are looking at about $500 per month potentially saved...$6,000 a year...in 2 years that is a down payment on a cheap house somewhere in the midwest. At the very least a rent or lease to own option if your credit is fukked.
People annoy the fukk out of me.
superunknown23
Superstar
He's a white guy who pretends to be black on hip hop forums, so it gives him cover to spew racist shyt.
It's a widespread phenomenon on political forums, particularly in discussions about Obama
Family Man
Banned
Apparently a lot of muthaphuckas on here aren't familiar with compound interest.I was afraid that this topic was going to start diving into race, but those who are talking about that shyt in here are ignoring the 64% statistic. This is a problem with the country as a whole. The whole Jordans and iPads argument doesnt hold weight here.
As far as those who believe you cannot build wealth saving, do you realize how silly that sounds? Sure, investing your money does provide you with a higher return if you play your cards right, but if you are not even in that situation you are going to sit there and tell me that I might as well just take care of an emotional need with the final $50 in my bank account instead of saving it till the next paycheck? That right there is what annoys me about people in our age group (20's). We are stuck in this whole make a killing immediately...if not then just enjoy yourselves right now at all costs.
The entire system has people stretching themselves to a point in which there is absolutely no downtime. Last week I talked to my cable provider and those a$$holes had the NERVE to tell me that I needed to sign a 1 year contract for my internet...and I am like for what? What are you subsidizing? Why the fukk should I commit to something with absolutely no benefit on my end?
The iPhone argument, meh...its not so much the phone its the way people go about it to aquire these items. You can buy an iPhone out of contract and throw it on Straight Talk for $45 a month. Problem is that people are impatient...they want the iPhone immediately and get locked into those ridiculous 2 year contracts without realizing they can be saving a good amount of money if they just planned it beforehand without a ridiculous etf.
Back to that $50 every 2 weeks...that is $1,300 a year and I am willing to bet that any full time working person will be able to do that with almost no changes in their lives. Have a gf/bf? Well then chances are BOTH of you will be able to save a little more than double that per check...so now you are looking at about $500 per month potentially saved...$6,000 a year...in 2 years that is a down payment on a cheap house somewhere in the midwest. At the very least a rent or lease to own option if your credit is fukked.
People annoy the fukk out of me.
superunknown23
Superstar
People still argue with Skippy? 
ogc163
Superstar
America's savings rate has been horrible for quite some time now, so 1. This is not a racial issue 2. This is definitely not a political issue, so bringing up Obama,Bush, etc makes no damn sense. The great amount of foreign investment in the United States over the last several decades has masked the less than stellar domestic savings and investment rates. But there comes a point where foreign investment can't mask all the problems that come from consistently not saving.
The low savings rate is a situation where there is no villain, no convenient evil/good paradigm that one can latch onto, and no simple solution. Americans over-consume but most of the consumption is based mainly on necessities and not superfluous things.
In the past there were some small discussions about "forced savings" and while I do agree that savings is the road to wealth, I don't feel comfortable having the government forcing people to save a portion of their wealth.
The low savings rate is a situation where there is no villain, no convenient evil/good paradigm that one can latch onto, and no simple solution. Americans over-consume but most of the consumption is based mainly on necessities and not superfluous things.
In the past there were some small discussions about "forced savings" and while I do agree that savings is the road to wealth, I don't feel comfortable having the government forcing people to save a portion of their wealth.
You want them and not spend a quarter of your paycheck? I know a site that sells great fakes
88m3
Fast Money & Foreign Objects
You want them and not spend a quarter of your paycheck? I know a site that sells great fakes
I don't wear sneakers.
88m3
Fast Money & Foreign Objects
ahomeplateslugger
Superstar
you can never trust these type of surveys/stats but the economy is so messed up that ppl are having to dig in their savings to keep their homes or to buy some groceries or pay a bill on time.
i was talking to an older man at the bank and he told me he was unemployed for 3 years and had to move back with his parents once his savings was close to running dry.
save whatever and whenever you can. you'll never know when you'll need the cash.
i was talking to an older man at the bank and he told me he was unemployed for 3 years and had to move back with his parents once his savings was close to running dry.
save whatever and whenever you can. you'll never know when you'll need the cash.
Let's not get it twisted.. Whites live above their means as well and a good number of them don't save & live paycheck to paycheck just the next man.