1 in 3 Americans can't come up with $2,000—here's how much you should be saving
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@caddo man do your siblings ask you for money since your are more financially stable than them?
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Lurkristocrat wrote: »playmaker88 wrote: »i do agree people should have a plan to save however in some cases it just not possible.. if you start in your youth you definitely have the upper hand because once you have a family and monthly responsibilities.. life comes at you fast. The reality is people need to be responsible with the money they spend but also.. the cost of living and low wage eats away at your saving potential
If only they would teach you things like this in school, hmmm.
This and starting a business
Starting a business isn't as simple as people like to try and make it -
Lurkristocrat wrote: »playmaker88 wrote: »i do agree people should have a plan to save however in some cases it just not possible.. if you start in your youth you definitely have the upper hand because once you have a family and monthly responsibilities.. life comes at you fast. The reality is people need to be responsible with the money they spend but also.. the cost of living and low wage eats away at your saving potential
If only they would teach you things like this in school, hmmm.
This and starting a business
Starting a business isn't as simple as people like to try and make it
agreed, however, giving them practical information such as things to know when trying to start one could be a lot more helpful to them -
starting a business starts in the mind...? is not easy at all.
but if posting styles are an indication of a person's true personality and mentality...a few people here can do some ? -
MrMinimalist wrote: »Bulletproof Wallets wrote: »This is sad. Especially to the people reading this on there $700 Iphones but not havong $2000 to touch.
I always thought why phone have $100+ for one phone bill? Now I think they're paying for the service along with the phone. Smh. No way they paid $700 upfront.
They definitely pay for the phone on a per month basis. That's how it is now. And with some phone companies, if u pay half the phone off, u can get the latest model, which is probably even more per month. -
T. Sanford wrote: »@caddo man do your siblings ask you for money since your are more financially stable than them?
Yes and I cut them off. -
T. Sanford wrote: »@caddo man do your siblings ask you for money since your are more financially stable than them?
Yes and I cut them off.
I'm curious to hear your story why -
MrMinimalist wrote: »Bulletproof Wallets wrote: »This is sad. Especially to the people reading this on there $700 Iphones but not havong $2000 to touch.
I always thought why phone have $100+ for one phone bill? Now I think they're paying for the service along with the phone. Smh. No way they paid $700 upfront.
? im paid 800+ for my note 5.. the ? I look like being 31 and can't shell out 800 with no ? giving -
2stepz_ahead wrote: »T. Sanford wrote: »@caddo man do your siblings ask you for money since your are more financially stable than them?
Yes and I cut them off.
I'm curious to hear your story why
Quick and simple.
1. they were not showing progress after I gave them money and
2. My wife. She dont play giving away her money. -
lol sounds like my wife
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good ass thought...
I always figured ? don't care that much.
but
let me gather some stuff to start it out with ....
and I'll put it up -
2stepz_ahead wrote: »good ass thought...
I always figured ? don't care that much.
but
let me gather some stuff to start it out with ....
and I'll put it up
I'm gonna have a ton of questions for u -
I got an extra supply of work in the corner in case of emergencies. Something come up, I flip it like flipper
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Buddy of mine brother died, he didn't have insurance, had to take up collection, now everyone who contributed think they in charge, my buddy don't even have time to greive sad ? man
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Lurkristocrat wrote: »playmaker88 wrote: »i do agree people should have a plan to save however in some cases it just not possible.. if you start in your youth you definitely have the upper hand because once you have a family and monthly responsibilities.. life comes at you fast. The reality is people need to be responsible with the money they spend but also.. the cost of living and low wage eats away at your saving potential
If only they would teach you things like this in school, hmmm.
This and starting a business
Starting a business isn't as simple as people like to try and make it
No derail, but a lot of that is because of too much government. But ? don't want to hear that... -
2stepz_ahead wrote: »https://www.yahoo.com/news/m/50852268-d713-3529-bb9b-8372f1f54dc3/ss_1-in-3-americans-can't.html
Here's how much you have to earn to be considered middle ...
America's middle class keeps shrinking.
One-third of Americans would not be unable to come up with $2,000 to deal with an emergency like an urgent home repair, medical crisis or car accident.
That's according to a new study released this week from The New York Fed. The survey of consumer sentiment surrounding access to and demand for credit was conducted in February.
While 32.5 percent of survey respondents feel they might need $2,000 to cover an unexpected expense in the next month, almost exactly the same number, 32.8 percent, admit they could not come up with that sum in the next month if faced with an emergency. That percentage has held steady since October 2015.
One of the most common emergencies is a medical expense. Currently, one-third of Americans would not be able to handle a $100 medical bill without going into debt . That's according to a February poll conducted by health-care information firm Amino.
The financial vulnerability of Americans is a reminder that, despite historically low unemployment rates, many in the U.S. are still living paycheck to paycheck.
In February, the unemployment rate was 4.7 percent, according to the Labor Department. In October 2010, the unemployment rate was more than twice that at 10 percent.
Wages, however, have been mostly stagnant since 2008 , while the costs of big-ticket items, including college, rent and healthcare, have continued to climb.
Experts advise that, in your 20s, you should aim to save 25 percent of your gross pay, including whatever goes into your 401(k), and that, in your 30s, you should have have the equivalent of your salary saved. As you get nearer to retirement, the amounts you are encouraged to have socked away increase.
Savings is the true measure of wealth.
But it seems like the problems with the inability to save is rather more so a symptom of our current economic woes and that it has to do with that as much as, if not more than, it has to do with the lack of financial literacy.
I've always been good/OK with my money up until very recently. Laziness, employment issues, and casual prodigality has finally caught up with me. But I always give myself some breathing room even during the good times, so I just need to rebuild and stay wise from now on. -
Lurkristocrat wrote: »playmaker88 wrote: »i do agree people should have a plan to save however in some cases it just not possible.. if you start in your youth you definitely have the upper hand because once you have a family and monthly responsibilities.. life comes at you fast. The reality is people need to be responsible with the money they spend but also.. the cost of living and low wage eats away at your saving potential
If only they would teach you things like this in school, hmmm.
This and starting a business
Starting a business isn't as simple as people like to try and make it
No derail, but a lot of that is because of too much government. But ? don't want to hear that...
And alot of it is because most people simply don't know how to run something. -
Lurkristocrat wrote: »playmaker88 wrote: »i do agree people should have a plan to save however in some cases it just not possible.. if you start in your youth you definitely have the upper hand because once you have a family and monthly responsibilities.. life comes at you fast. The reality is people need to be responsible with the money they spend but also.. the cost of living and low wage eats away at your saving potential
If only they would teach you things like this in school, hmmm.
This and starting a business
Starting a business isn't as simple as people like to try and make it
I disagree with this.. In America.. Starting a business is actually easier than filling out a job application and getting through a background check. No ? .. If you don't want to go through a lawyer depending on the state you can start a business for no more than $2-$300 dollars and do everything online.. -
I don't even really even plan on living that long so if it's mine, I spent it.
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2stepz_ahead wrote: »T. Sanford wrote: »@caddo man do your siblings ask you for money since your are more financially stable than them?
Yes and I cut them off.
I'm curious to hear your story why
Quick and simple.
1. they were not showing progress after I gave them money and
2. My wife. She dont play giving away her money.
I agree. Just because you're family doesn't mean you're entitles to anything. If you out taking fly trips and living a good life, they need money and you don't want to give it, that's great. ? 'em if they get mad at you. People need to change their mindset instead of becoming burdens.
If I have a wife and she got ? family members, she better give away the money that she makes because we're not gonna be wasting both of our ? . -
EmM HoLLa. wrote: »Lurkristocrat wrote: »playmaker88 wrote: »i do agree people should have a plan to save however in some cases it just not possible.. if you start in your youth you definitely have the upper hand because once you have a family and monthly responsibilities.. life comes at you fast. The reality is people need to be responsible with the money they spend but also.. the cost of living and low wage eats away at your saving potential
If only they would teach you things like this in school, hmmm.
This and starting a business
Starting a business isn't as simple as people like to try and make it
I disagree with this.. In America.. Starting a business is actually easier than filling out a job application and getting through a background check. No ? .. If you don't want to go through a lawyer depending on the state you can start a business for no more than $2-$300 dollars and do everything online..
your speaking of incorporating a business.
yea...that's easy.
running a business.... nah. not easy -
If you can't come up with 2k that's a big issue
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T. Sanford wrote: »@caddo man do your siblings ask you for money since your are more financially stable than them?
Yes and I cut them off.
I don't blame you bruh; I would've did the same including friends too. I am all about helping but if a fam or friend isn't persistent about getting their life together & try to make asking for money a fashion then I can't be around them. They're not about to leech off of me. -
2stepz_ahead wrote: »EmM HoLLa. wrote: »Lurkristocrat wrote: »playmaker88 wrote: »i do agree people should have a plan to save however in some cases it just not possible.. if you start in your youth you definitely have the upper hand because once you have a family and monthly responsibilities.. life comes at you fast. The reality is people need to be responsible with the money they spend but also.. the cost of living and low wage eats away at your saving potential
If only they would teach you things like this in school, hmmm.
This and starting a business
Starting a business isn't as simple as people like to try and make it
I disagree with this.. In America.. Starting a business is actually easier than filling out a job application and getting through a background check. No ? .. If you don't want to go through a lawyer depending on the state you can start a business for no more than $2-$300 dollars and do everything online..
your speaking of incorporating a business.
yea...that's easy.
running a business.... nah. not easy
I mean they said starting a business.. Lol.. That's how i interpreted it.. Running a business is a whole other animal.. A family member is running a successful enterprise.. And in the past year.. He looks like he's aged 6-7 years.. Looking at pics from a year ago to now it's startling..
