Bank rate survey finds: 56% of Americans cannot cover a $1000 emergency

MG0h3

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theyve been saying the average person is 1-2 missed paychecks away from financial disaster for as long as I can remember.

And Iran is 2 weeks from having a nuke.

It was months back in the 2000s.

Thank god tax dollars stopped them.

Same with the hole in the ozone layer from the 90s. Fixed that too.


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SolarYellow

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Lol@ thinking this is new because of the current administration. People’s priorities have always been out of order and that won’t change.

Also thinking that article at face value is naive
People have been droolers long before he was elected.

Our society doesn't understand living a good life and a smart life should go hand in hand. You have to be smart and if you are, you live a good life. If you aren't, you are desperately waiting on the government for another C19 cheque.
 

lOOKnGO

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I would typically have a thousand dollars a year in pocket change. All change would go into a old glass water bottle and we'd cash it out. Always just over 1k a year. Kids today and their plastic cards offer no change at checkout. BTW, 1k in change is heavy around 100 pounds. Just start saving.
Screenshot_20240319-162533_Gallery.jpeg


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13COBRA

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I would typically have a thousand dollars a year in pocket change. All change would go into a old glass water bottle and we'd cash it out. Always just over 1k a year. Kids today and their plastic cards offer no change at checkout. BTW, 1k in change is heavy around 100 pounds. Just start saving.View attachment 1833255

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Probably costs you $25-50 a year in inflation.
 

jpro

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Most of that crowd can't cover a emergency 1000 bill but they always have the newer car or iPhone and clothes lol
Is that wrong, though? I save money, invest money, like a mofo. Then I drive down the street and see a Porsche or hear about my friend's most recent trip to Italy and I think I am doing it wrong. Does it ever catch up with them???? I don't think so because for as long as I can remember, people have been driving $100K cars and blowing money on lavish vacations, etc. yet they are still alive. Meanwhile, I'm over here saving/investing and looking at a number.
Unfortunately, live for today and the YOLO mentality has only gotten worse.

I feel guilty spending money these days, it’s the other side of the problem. I can’t stand seeing my “number” go down.
You and me both. I love watching the number go up, up, up, but what is the point? I'll probably die before I can spend it all. Give it to my kids? Maybe, but no one ever gave me anything and I'm doing just fine.
 

IA Shelby

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Is that wrong, though? I save money, invest money, like a mofo. Then I drive down the street and see a Porsche or hear about my friend's most recent trip to Italy and I think I am doing it wrong. Does it ever catch up with them???? I don't think so because for as long as I can remember, people have been driving $100K cars and blowing money on lavish vacations, etc. yet they are still alive. Meanwhile, I'm over here saving/investing and looking at a number.

You and me both. I love watching the number go up, up, up, but what is the point? I'll probably die before I can spend it all. Give it to my kids? Maybe, but no one ever gave me anything and I'm doing just fine.
You can make the pyramid scheme work as long as the cash flow remains strong and consistent. The second that gets upset, some of those big spenders are in serious trouble.

I believe people should treat themselves….after they have a significant rainy day fund established.
 

Dirks9901

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I have found many people struggle with a healthy balance. It’s either YOLO spending or living like it’s 1930. Build an emergency fund, invest in retirement funds, have a savings account for future large purchases and for **** sake some money to enjoy life…For my wife and I we found the balance to do them all. We don’t want to be financially destitute in retirement and wont be but tomorrow isn’t a guarantee either. Anyone who has gotten sick with a life altering illness will tell you that. I would be one of those people.

Either way people really need to get their shit together still. These studies are old news.


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Relaxed Chaos

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Is that wrong, though? I save money, invest money, like a mofo. Then I drive down the street and see a Porsche or hear about my friend's most recent trip to Italy and I think I am doing it wrong. Does it ever catch up with them???? I don't think so because for as long as I can remember, people have been driving $100K cars and blowing money on lavish vacations, etc. yet they are still alive. Meanwhile, I'm over here saving/investing and looking at a number.

You and me both. I love watching the number go up, up, up, but what is the point? I'll probably die before I can spend it all. Give it to my kids? Maybe, but no one ever gave me anything and I'm doing just fine.

Everyone has their own balance to living in the past, the present, and the future. Never worry about what others are doing. However it's always good to take stock of your own life and habits, and realize you won't live forever but you will live for a while yet. Life is short, and also long.

If your current life balance suits you, then keep going. If not, then choose wisely on some things where you could spend more money or time to live it up a within a comfortable budget.

As I've gotten older I'm more comfortable spending money to save time and hassle, where my younger self would have endured these. Also, I realize I don't have that many years left so if there are some things I want to do before the permanent nap then I need to get doing them.
 

supercharged91m

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Is that wrong, though? I save money, invest money, like a mofo. Then I drive down the street and see a Porsche or hear about my friend's most recent trip to Italy and I think I am doing it wrong. Does it ever catch up with them???? I don't think so because for as long as I can remember, people have been driving $100K cars and blowing money on lavish vacations, etc. yet they are still alive. Meanwhile, I'm over here saving/investing and looking at a number.

You and me both. I love watching the number go up, up, up, but what is the point? I'll probably die before I can spend it all. Give it to my kids? Maybe, but no one ever gave me anything and I'm doing just fine.
It's not wrong I guess but a lot of these people I know are like in five figure debt and if they get laid off for a week they cant pay anything. And then I get made fun of driving the 26-year-old car but I could be laid off for months and I still pay my bills on time Soo who gets the last laugh??
 

jpro

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It's not wrong I guess but a lot of these people I know are like in five figure debt and if they get laid off for a week they cant pay anything. And then I get made fun of driving the 26-year-old car but I could be laid off for months and I still pay my bills on time Soo who gets the last laugh??
Yeah, I guess I was playing devil's advocate. I grew up without any advantages and we had to beg and borrow to get by. I'm living the good life as an adult but I'm driven to stack paper rather than spend it. If I spend a chunk I hate to see my number decrease; I want it to always be increasing.
 

365 Saleen

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The amount of money people spend in week on crap would astonish most people.
My oldest son, several years ago, was complaining about not having any money.
I told him to take a small notebook with him, and every time he used his debit card write down how much and where he spent the money.
He was shocked at how much of his income was pissed away on frivolous items.
With a debit card, you do not see the "money" as money. He was pissing away over $100 per week and did not even know it. All on unnecessary stuff. Starbucks coffee, whole foods BS, ect.
 

_Snake_

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She said no. Or that's the part that I can post without special characters.





(She did say -- with Nick?! HA! I don't want to know!)
 

Klaus

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Could not get past the first 30 seconds. That shit music has got to go.

"I remember in the 80's, me and pop would ride
Now we conversate on acres we's about to buy
He had already been what I'm about to go through
Told me ain't no sense in gamblin if you gamble to lose
If you made twelve dollars, you put seven away
And lived off the five, and never ever **** with your safe"

Scarface, CFA
 

supercharged91m

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Yeah, I guess I was playing devil's advocate. I grew up without any advantages and we had to beg and borrow to get by. I'm living the good life as an adult but I'm driven to stack paper rather than spend it. If I spend a chunk I hate to see my number decrease; I want it to always be increasing.
I hear that as a child we didn't have cable TV and now that's like unheard of. I stack many things like paper and OG money aka shiny stuff
 

72MachOne99GT

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I could start another thread and talk about how wild my finances are, but that would tailspin into my wife telling me we need to budget better while she attempts to buy a 300-500,000 dollar property, an hour and a half south of us, in the middle of butt effing nowhere, with a group of her family members, in a trust, so she can turn it into a convention center.

Somebody shoot me.

Back on topic:

I spend more on wasteful bullshit than I ought to. Whether it’s eating out or stupid snacks, and definitely booze and stuff. Fortunately I have a pension, 8% into a 401k, and my wife has a pretty legitimately 401 program as well.
 

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