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Old 01-12-2015, 09:59 AM
 
5,367 posts, read 5,984,265 times
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http://finance.yahoo.com/news/3-5-am...130100517.html
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Old 01-12-2015, 10:26 AM
 
2,303 posts, read 2,251,604 times
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Quote:
Originally Posted by BradPiff View Post
Kind of old news. I think everyone knows that the majority of people don't have a lot of cash sitting in a savings account.

That said, statistics like this one are a little off. If I put money in the stock market it doesn't show up as me having it saved, despite the fact that if I had an unexpected expense I could easily sell off some shares to cover. The typical "Savings Account" offers incredibly low interest rates these days, so it's not really a good place to park your money.
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Old 01-12-2015, 10:28 AM
 
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I'm actually surprised that 2 in 5 do.
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Old 01-12-2015, 08:16 PM
 
Location: New York
1,096 posts, read 959,464 times
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most americans live paycheck to paycheck. Stahp it!

Stop leasing cars, using credit cards and burying yourselves in student loan debt.
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Old 01-12-2015, 08:30 PM
 
Location: Florida -
8,753 posts, read 10,794,020 times
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It seems like the operative concept of "unexpected expenses" is that they are "unexpected" ... and, as such, how can one know whether they have enough money to pay for them?? Something about how the question is asked or the rationale used to answer it seems a little flawed.

The article might be a bit more credible if it stated, '3 in 5 Americans between the ages of 20 and 30 say they couldn't raise $2000 to pay for an emergency," but, then, that's probably too factual for those who depend in provocative hyperbole to attract readers.

Last edited by jghorton; 01-12-2015 at 09:16 PM..
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Old 01-13-2015, 04:11 PM
 
1,008 posts, read 1,115,738 times
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3 out of 5 Americans are also stupid and except living in
debt too so that explains that.
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Old 01-13-2015, 04:20 PM
 
12,694 posts, read 9,926,342 times
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Quote:
Originally Posted by Europeanflava View Post
3 out of 5 Americans are also stupid and except living in
debt too so that explains that.
Does not parse. (Do you mean "accept living in debt"?)
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Old 01-13-2015, 05:26 PM
 
1,008 posts, read 1,115,738 times
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Quote:
Originally Posted by ncole1 View Post
Does not parse. (Do you mean "accept living in debt"?)
Yes.
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Old 01-13-2015, 08:15 PM
 
7,249 posts, read 5,568,098 times
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Less sensationalist take...

28% say they'd have to borrow money to pay a ~$1000 unexpected expense.

64% would take it out of savings or cut back spending (the two of course are not mutually exclusive).
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Old 01-13-2015, 08:24 PM
 
18,784 posts, read 13,528,643 times
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Quote:
Originally Posted by JasonF View Post
Less sensationalist take...

28% say they'd have to borrow money to pay a ~$1000 unexpected expense.

64% would take it out of savings or cut back spending (the two of course are not mutually exclusive).


38% could cover it out of pocket that's not sensationalized


The other methods are either borrowing 28% or 26% cutting spending elsewhere, meaning not being able to cover something until more income came in. That's pretty sad imo
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