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measuring savings accounts is meaningless ... most of us don't have any use for a savings account ...that is a specific kind of bank account .. i have zero in one
MJ, you make this point in every one of these discussions. Can it just be taken as given that we're usually talking about people who don't have brokers, investment accounts, an eTrade account or even CDs... but those who have some smallish amount somewhere other than in their pocket or checking - sorry, "on demand debit" account? Whether it's in a separate bank account or a sock under the mattress, it doesn't really matter... but it's what most people refer to as "savings."
And even I have a Savings Account™ despite having all the more sophisticated instruments above. It's a simple method of keeping emergency/backup money where I can get it almost as fast as my not-a-checking account, but firewalled from any debit card shenanigans.
TL;DR - the entire board knows you don't have a Savings Account, because you're just too darned sophisticated investorially-wise. You need not point it out every thread.
Every single topic about economic struggle at the lower end includes a full set of pompous, smug posts about how nearly all these people are on the bottom because of their own choices - they're stupid, greedy, lack will power, never learned personal economics, can't resist spending their welfare check on the new iPhone, blah, blah yadda yadda yadda.
Maybe that's because those posts are just kind of.....true. Some people in this world are actually poor, but the vast majority of American's are not poor, they're broke by choice. There is a HUGE difference between the two you know.
Quote:
"Whether you think you can, or think you can't, you're right,
- Henry Ford
Last edited by treasurekidd; 05-25-2019 at 11:06 AM..
Maybe that's because those posts are just kind of.....true. Some people in this world are actually poor, but the vast majority of American's are not poor, they're broke by choice. There is a HUGE difference between the two you know.
I can't spell out HS here, so you'll just have to infer or guess or look it up.
Unless you're just too damned worthy to bother. Thanks for playing.
Your last sentence is completely accurate... just irrelevant.
"The problem ain't what we don't know, but what we know that ain't so."
- Josh Billings, long before Fox News made an industry out of exploiting this notion.
Unless you're just too damned worthy to bother. Thanks for playing.
The ignorance and arrogance astounds. You can't argue with facts, and you know it, so you resort to low class, smart a** put downs. A typical self entitled narcissistic liberal mindset. I don't think I'm the one who feels too worthy Q, and you're not nearly as clever as you think you are. Have a great day.
Quote:
Genius may have its limitations, but stupidity is not thus handicapped.
I keep $400 or more in my wallet, with a whole lot more in the cookie jar. And my cell phone is an HSN 80 buck Tracphone that came with 1500min/yr included. (6 months in, I've used 300 min) IF HSN has the same deal when this one runs up, I'll order another and throw this one out....because the Tracphone refill for same service alone is $125.
The ignorance and arrogance astounds. You can't argue with facts, and you know it, so you resort to low class, smart a** put downs. A typical self entitled narcissistic liberal mindset. I don't think I'm the one who feels too worthy Q, and you're not nearly as clever as you think you are. Have a great day.
Quote:
Genius may have its limitations, but stupidity is not thus handicapped.
MJ, you make this point in every one of these discussions. Can it just be taken as given that we're usually talking about people who don't have brokers, investment accounts, an eTrade account or even CDs... but those who have some smallish amount somewhere other than in their pocket or checking - sorry, "on demand debit" account? Whether it's in a separate bank account or a sock under the mattress, it doesn't really matter... but it's what most people refer to as "savings."
And even I have a Savings Account™ despite having all the more sophisticated instruments above. It's a simple method of keeping emergency/backup money where I can get it almost as fast as my not-a-checking account, but firewalled from any debit card shenanigans.
TL;DR - the entire board knows you don't have a Savings Account, because you're just too darned sophisticated investorially-wise. You need not point it out every thread.
i suggest you read the thread on "savings accounts " ...see how many people have no use for a savings account ... you should be knowledgeable enough to know that most people no longer keep savings accounts if they use a bank , so it has zero to do with being investment savvy . ..today most use checking accounts , cd's and money markets.
the roughly 5k or so that comes up as being the median amount in a savings account is actually what the fed calls transnational accounts not specifically savings accounts ..... The Fed defines transactional accounts as checking, savings, money market and call accounts, as well as prepaid debit cards. Retirement and brokerage accounts, for instance, would not qualify as transactional accounts.
Last edited by mathjak107; 05-25-2019 at 12:45 PM..
you should be knowledgeable enough to know that most people no longer keep savings accounts if they use a bank , so it has zero to do with being investment savvy . ..today most use checking accounts , cd's and money markets
Sorry for being uninformed, but why "most people no longer keep savings accounts"? Where they keep emergency found? In debit account? That's what are you saying? I didn't found any confirmation of this statement online.
I thought emergency found should be kept separate from checking account. Some people might have hard time to resist spending it.
Median checking account balance is $2900. So how do they not have $400?
Not sure what to believe.
Outstanding!
Quote:
Originally Posted by Quietude
I can't spell out HS here, so you'll just have to infer or guess or look it up.
So, people who spend $189/month on cable and $100+/month on cell-phone and $80/month at Starsucks and waste money frivolously in other ways don't have $400?
How dumb are they?
Anyone with a modicum of intelligence would delay instant gratification of infantile urges until they had a safety net.
How freaking hard is it to cancel the cable, cancel the Hulu, cancel the Netflix, cancel the other half-dozen subscription services, convert the cell-phone to prepaid and take away the cell-phones from your children if you have to, stop going Starsucks and limit dining out to once a week.
I assure you, no one will die from that.
Guess what? In just 6 months they'll have well over $1,000 in the bank.
Manufactured disingenuous self-serving problem solved.
Then they can restart their services and waste all the money they want.
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