nearly one in three US "adults" have no emergency savings....(28%)
One in four have a "rainy day fund" but not enough to cover 3 months of expenses
While there may be some folks for whom saving is impossible, I gotta say that I think that this is simply choices people make....newer cars, newer shoes, the latest IFone, eating out instead of cooking at home, $6 coffees....
Most people could choose to live differently and save $50 per week. $2500 per year. it isn't easy, and it takes discipline, but it can be done.
Choices. Live large until you can't,,,,.Or choose wisely.
I think it's a cultural thing too.
One in four have a "rainy day fund" but not enough to cover 3 months of expenses
While there may be some folks for whom saving is impossible, I gotta say that I think that this is simply choices people make....newer cars, newer shoes, the latest IFone, eating out instead of cooking at home, $6 coffees....
Most people could choose to live differently and save $50 per week. $2500 per year. it isn't easy, and it takes discipline, but it can be done.
Choices. Live large until you can't,,,,.Or choose wisely.
I think it's a cultural thing too.
I live in a town where the average income is $25K. The welfare... er... COMMUNITY SERVICES... department takes up a strip mall that once housed Sears, a major supermarket, and 25-30 other smaller stores. It actually had to open an ANNEX a mile down the road because it outgrew the strip mall! There are two Starbucks in my town. There's NEVER a time when there isn't a line at both their drive-throughs... I rest my case...
ReplyDeleteOne particular peeve of mine are people with no reserves, sky high debt, seasonal employment....and fresh large tattoos. At least the gold chains of the inner city can be taken to the pawn shop in a pinch.
ReplyDelete