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

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 5 years ago '06        #121
TheKastOne 
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I do feel bad for my friends that are barely getting by and our my age (25). Working at Subway, Target, Best Buy etc.

If you're alone its one thing, you got kids, fu*k even worse for you.

I've been through a lot of bullsh*t, seem to of persevered. I always had a negative view of society as a whole, but have tried my best to keep my hopes up cuz of my daughter.

Wish all of you guys luck.
 5 years ago '04        #122
TheMagicMan|M 2 heat pts
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 TheMindOf said:
I see peoples bank accounts every day at work. It's actually surprisingly low to me.

You'd be surprised at how many people only ever have $20-$80 in their accounts at ALL times..
Man, I thought I kept my checking account low, but I havent seen less than 1,000-2,000 in my main account since my first year working.

Keep hustling youngings and save your money up
 08-11-2012, 12:41 AM         #123
Ni2 
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 darnbni99a said:
def part of the 64.


just had my wedding tho
find some new friends. cant choose your fam but damn i gave every one of my friends a bill at their weddings just cause. come up with a grand shouldnt be hard.
 5 years ago '09        #124
KNerd 2 heat pts
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 One Gud Cide said:
no...they kinda aren't though.
When you think of account holders as investors they kinda are. Everything is all good until the money stops coming in. Banks operate on whats called fractional reserve lending. That means they keep a fraction of what they lend out in reserve just in case. Do you know what that number is? 9%. 9 fu*king percent. Think about that. If you deposit $1,000,000 they, in reality, have only $90,000 of it.

It may not be the exact definition of one but it operates in the same way.
 5 years ago '09        #125
KNerd 2 heat pts
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 Doe Sun said:
Considering FDIC insures up to $250K I believe, how would people at the bottom lose? Quit your class warfare mindset.
You don't get it do you. Yes its insured by the FDIC but they don't have money sitting in an account incase that happens. Why don't you ask AIG how insuring money went. You don't seem to understand the reality of the global banking system at all
 5 years ago '06        #126
"SS" 28 heat pts28
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sh*t i used to say a 1000 wasnt nothin i would blow thru that sh*t in a weekend, then i ended up gettin a divorce got a serious a.ss health condition losin my job and a foreclosure all in the same year, took me 2 years to actually find another job and i dont make nearly as much as i did at my last one. now im livin paycheck to paycheck and still barely have money for everything i need to cover its been dam near 4 years since all that sh*t happened and i still dont see the light at the end of the tunnel. my fu*kin credit is shot i live between my grandma and my girlfriends house, that one bad year fu*ked my whole life up for a long time and even now im not gettin ahead just surviving. i know dam well i aint got a grand in the bank...hell i dont even have a bank account and on top of that i work in a fu*kin pawnshop of all places i deal with 10s of thousands of dollars everyday i can do 1 transaction that makes the company more than i can make in 2 months and im still expected to be honest and not steel (which i dont) but i swear its tempting as hell sometimes


Last edited by "SS"; 08-11-2012 at 01:37 AM..
 5 years ago '06        #127
Da Realness 2 heat pts
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waitin for the day when there will only be a high class and a low.. no middle class.
 5 years ago '09        #128
Toss 
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Nope but close. I quit my job and I'm just chillin going I school not really money motivated like use to
 5 years ago '09        #129
circleofpurple 58 heat pts58
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I don't even have a bank account.
 5 years ago '08        #130
Keno 19 heat pts19
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I dont have 1k in the bank... I'll get close then bills are dur or I want to shop/travel.
 5 years ago '08        #131
itzjustlogic 52 heat pts52
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Let me put it this way if I had less than a G in my bank account I wouldn't be on the Internet on my Galaxy S3. I've been saving since I was 12 and never looked back. That's about 14 years of savings. Got me out the hood. Fukc ballin I'm trying to make it without anyone's help.
 08-11-2012, 02:55 AM         #132
freakbucket 
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 uncommonone said:
i owe the bank money......fu*k em
lol.

i havent had 1,000 in the bank in forever. a few racks in my 401k and roth IRA if you want to call that the bank, but no money at all in checking and savings accounts. i stash my money at my grandmas house, lol, old school safe sh*t.
 5 years ago '05        #133
zogby 42 heat pts42
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 5 years ago '10        #134
Intoxicated 123 heat pts123
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Damn.. Glad I'm not part of that 64%..
 5 years ago '07        #135
Jayceon 492 heat pts492
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depends what time of year u ask. i flip flop between groups.


 08-11-2012, 04:59 AM         #136
SOCIALITE 
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i got a thousand in the bank and I ain't sh*t. I don't believe this sh*t for a second...or n*ggas just ain't fu*king with banks at all these days.
 08-11-2012, 05:18 AM         #137
Got Cheeve? 
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Damn, that's crazy. I thought I was poor (but then again, the reason I have money in the bank is because I don't have much material wise, I keep it simple.)

Sitting at $6,000



Still, that ain't sh*t IMO, but apparently it is to most Americans.

 5 years ago '10        #138
lltreyll 
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 5 years ago '04        #139
DJ Maximum|M 47 heat pts47
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most people who are apart of that 36% more than likely parents had life insurance

so they can keep anywhere form 50k-300k

most people dont even make more than 30k a year
 08-11-2012, 06:33 AM         #140
Sam Rothstein 
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Does the study say age range? I know they didn't look at everyone in America. This study seemed flawed to me. If you are 18 years or younger the chances are very slim unless you've worked hard or your parents gave you money. So, I doubt they surveyed any under the age of 18.

A lot of people don't trust putting their money in the bank because their money is dirty. Other people have their money tied up investments (homes, stocks, and other a.ssets).

But then again I'm not surprised, but if everyone had $1,000 in the bank that would just create inflation and you wouldn't be able to get the real value of what $1,000 is worth right now.

Then you have those people who don't get a job or start working until they have no choice. Then you have those people who don't know how to save. I say the survey is flawed a little, but it's sort of on point.

You just got to know how to play the hand you were dealt. 10k, 20k, that's nothing neither. That could be gone overnight into an investment.
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