1 in 3 Americans can't come up with $2,000—here's how much you should be saving

[Plutarch]

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 niggas don't want to hear that...

 

[Plutarch]

https://www.yahoo.com/news/m/50852268-d713-3529-bb9b-8372f1f54dc3/ss_1-in-3-americans-can%26%2339%3Bt.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.

 

[blackrain]

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 niggas don't want to hear that...

And alot of it is because most people simply don't know how to run something.

 

[EmM HoLLa.]

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 bullshit.. 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..

 

[Will Munny]

I don't even really even plan on living that long so if it's mine, I spent it.

 

[MrMinimalist]

@"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. Fuck'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 bum family members, she better give away the money that she makes because we're not gonna be wasting both of our shit.

 

[2stepz_ahead]

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 bullshit.. 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

 

[StillFaggyAF]

If you can't come up with 2k that's a big issue

 

[T. Sanford]

@"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.

 

[EmM HoLLa.]

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 bullshit.. 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..

 

[T. Sanford]

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 bullshit.. 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..

what kinda business that they own?

 

[2stepz_ahead]

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 bullshit.. 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..

lol.....yea.

shit can be stressful.... but the perks are or could be worth it

 

[illcandidate]

These type of statistics my own personal experiences, and the experiences of friends and family drove me into my current profession.

 

[Plutarch]

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 niggas don't want to hear that...

And alot of it is because most people simply don't know how to run something.

I agree. But even if you do have the necessary skills, too much government in the U.S. is still going to be a big, if not insurmountable, obstacle.

At this point, we're doing everything we can to destroy wealth, production, growth, etc. It's so bad American businessmen go to China, of all places, to set up their businesses because they're so much red tape in America.

It's no more apparent than today that small businesses are the bread and butter of a strong economy and middle class.