Aug 9 - New study says 64% of Americans have less than $1,000 in the bank

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 5 years ago '06        #21
JamesAdamsIz808 2 heat pts
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 Sam Rothstein said:
No excuse for being broke, especially if you are receiving benefits. Invest your money right, get a job, develop a skill and become self employed when you aren't working your real job, go to school, don't have any kids, sacrifice and you should be decent if you go hard.

[pic - click to view]



Ass n*gga
 08-10-2012, 06:44 AM         #22
ManWithoutFear! 
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DAMN 64%?!?!

I wont get into my finances but my pops told me its always a good look to have at least 10gs in the cut at ALL times. But with the debt people accumulate from late teens & into full on adulthood I can understand how hard it must be to save. smh
64% tho? Sh*t.
 5 years ago '10        #23
DRockBSP 
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i got more than a stack in the bank. feels good.
 5 years ago '10        #24
TheMindOf 21 heat pts21
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 NoTitleSince73 said:
learn what a ponzi scheme is lol


Right. He just thought it sounded cool
 5 years ago '04        #25
SpyDa 180 heat pts180
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 Sam Rothstein said:
No excuse for being broke, especially if you are receiving benefits. Invest your money right, get a job, develop a skill and become self employed when you aren't working your real job, go to school, don't have any kids, sacrifice and you should be decent if you go hard.


did you not see the chart i posted. Let me break it down for you.

If its

10 jobs out there
9 of the jobs are taken. (5 are close to retiring but due to higher cost they are forced to work longer and 4 are fresh new hires.)
They advertise for one spot but every quarter you have 40 people coming out of college looking for work to pay off debt.


What should the 40 people do if it's not any jobs? Go back to school and collect debt? Build a self business under a government that's built against it? Invest the money you dont have?


help me understand that please. I might be wrong.
 5 years ago '09        #26
Spiffy 34 heat pts34
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fu*k the banks, I dont trust em. God forbid some sh*t goes down where you need cash only, your ATM card and money in your bank are no good. Keep cash handy, the end is coming
 5 years ago '11        #27
GetuOne 73 heat pts73
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Eh, i'ma file my self under the 64% even though i've got 10k in a mutual fund. I'm broke.
 5 years ago '12        #28
Prostyle 2 heat pts
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 Spiffy said:
fu*k the banks, I dont trust em. God forbid some sh*t goes down where you need cash only, your ATM card and money in your bank are no good. Keep cash handy, the end is coming
You don't need to worry about that, your weed money is safe at Wells Fargo
 5 years ago '05        #29
ReppinDaBurghh 55 heat pts55
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 Ciggavelli said:

One East Texan tells KETK "I used to have more than a thousand dollars in the bank but now that the economy is getting worse so I have less than a thousand dollars.
at that random, straight to the point quote.
 5 years ago '05        #30
Stupendamatic 117 heat pts117
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Less than a thousand in my checking but I have over in my savings. I have money automatically transferred each month from my checking to savings. People need to be even smarter with their spending in todays economy if you want to get ahead.
 5 years ago '09        #31
Spiffy 34 heat pts34
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 Fras1788 said:
Hate to burst your bubble man, but honestly if it came to that point, you're going to need something other than cash all together. Something that's actually worth something, like Gold, Diamonds, knowing a trade etc etc, and being able to barter those items for services.

The value of our dollar will continue to fall, and whether you physically have the money in your hand or in a bank will not matter.
you never know man, some dude might be selling a can of beans for like $50 when you trying to feed your family. Just saying
 5 years ago '06        #32
Rique 60 heat pts60
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Mines in a checking account this says savings tho
 08-10-2012, 05:00 PM         #33
Ednyce 
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wow thats sad, i stays wit $10,000 on hand and i have no debt. just paid off my cc's. im straight.

$10,000 cash + $15,000 credit + excellent credit score = chilling. 1 thing i always made sure of was keep that credit good.


Last edited by Ednyce; 08-10-2012 at 05:05 PM..
 08-10-2012, 05:01 PM         #34
TimmyGee 
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 Stupendamatic said:
Less than a thousand in my checking but I have over in my savings. I have money automatically transferred each month from my checking to savings. People need to be even smarter with their spending in todays economy if you want to get ahead.
I do the same, but every two weeks.
Part of the 36%
 08-10-2012, 05:03 PM         #35
Cowboys All Day 
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I've had a savings account since I was 18 and religiously put money into it twice a month. I've only pulled from it one time and that was when I bought a new car and needed a fat down payment. I've got plenty saved for emergencies.

My checking account on the other hand, I usually pay ALL my bills on the 1st. Mortgage, car payment, insurance, cell phone, etc etc. I just do it all on that day, so by the 2nd I may slip under then 1k mark but it's not really typical unless I bought some expensive sh*t a few days before.

I was raised to be smart and save money, if I keep this going I'll have enough in my savings to retire by around 40-45 years old (not that I will, I'd just probably have enough unless something fu*ked up happens like a lay off @ my office or something) , but most people don't know how to save money for sh*t, it's really sad. Not saying everyone with under a G in the bank doesn't know how to save, but most people don't know the first thing about balancing a check book every month or saving sh*t.. I had like 30k in student loans but I paid that sh*t off within a year of graduation, scholarships only cover so much.


Before I got my degree though, sh*t, I was living off of scholarship money, extra student loan money, and 150/week from my part time job while I was takin classes. I was broke as fu*k during college lol, legitimately poor.


Last edited by Cowboys All Day; 08-10-2012 at 05:13 PM..
 08-10-2012, 05:05 PM         #36
hollatchadude 
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 CadillacVyse said:
A few years post the great recession ppl are still broke...seems legit!
POST??? the recession is worse playa...and there is no end in sight
 5 years ago '09        #37
WiLL 17 heat pts17
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I got 980 right now
 5 years ago '12        #38
Cubs Draco 141 heat pts141
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 JamesAdamsIz808 said:

[pic - click to view]



Ass n*gga
he telling the truth though. n*ggas that have kids in their teens are gonna be broke forever.
 08-10-2012, 05:11 PM         #39
Cowboys All Day 
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 Hare Krishna said:

PEOPLE WASTE THEIR MONEY ARE STUPID SH1T.


NEW CARS WHILE RENTING A HOME/APT
Well, to be fair there is a lot more to be cautious about when talking about owning a home vs owning a car. I own my home but I lease my personal vehicle, and have a company vehicle. I just prefer leasing vehicles because I know sh*t about fixing vehicles and repairs can get pricy. The same can kinda be said for owning a home, some home repairs can be fu*king ridiculously expensive. Home ownership isn't for everyone but I really just wanted something to call MY OWN ya know, plus renting in Dallas is a fu*king hassle and way overpriced. My co worker pays 1450 a month for a DUPLEX while my mortgage is about 600 a month for a nice a.ss house.

I see your point though, there will ALWAYS be people trying to live above their means. This is why places like rentacenter and rimtime will ALWAYS exist, and thrive... even in a down economy.
 5 years ago '04        #40
WhoThaFuk 2 heat pts
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after rent this month; no
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