More Than Half Of Americans Have Less Than $1,000 In Savings @senseicat
Most financial experts recommend having a 3-12 month emergency savings to cover unexpected costs related to job loss, medical bills, or other expenses. Perhaps, the statistics below may surprise you about how much Americans actually save, especially since Americans are generally viewed "rich" compared to people from many other countries.
More than half of Americans have less than 1,000 in savings in 2017. In fact, 57% of Americans have less than $1,000 in savings in 2017 compared to 69% in 2016 and it is quite a revelation.
However, 25% of Americans have $10,000 or more in 2017 compared to 15% in 2016 which is an improvement according to the statistics provided by bank rate.
https://www.gobankingrates.com/saving-money/half-americans-less-savings-2017/
Please vote, comment, resteem @senseicat
Really scary statistics. I think a majority of Americans use their credit cards as their rainy day account or their backup plan.
Yes, and the overuse of credit cards perpetuates the cycle of spending plus the accrued interest. Reinforcing the importance of saving is vital to feel secure today as well into the future.
Yeaaah, it is sad so many people live on low saving or live pay check to pay check. I sure have in the past...
I almost ran out of money before I found out about Steemit.
I do think it is greatly due to lack of financial education taught in my childhood.
I feel so lucky that I have found out about cypto about 6 months ago.
I have learned so much about smart ways to hold and invest money in the recent few months. I see a bright future of having more abundance in my finances and hope many people can also become educated in cypto and smart investing.
Educating children about financial knowledge is extremely important regardless of financial status of the family they are born into. They benefit by earning an allowance in exchange for chores and saving monetary gifts. It teaches discipline. Children also learn by watching their parents and how they handle money.
Hum I am a little surprised to find out that most Americans don't have that amount on their bank's but it is understandable because how the world works, nevertheless, the more reason we have to promote Steemit even more, let's be rich sensei! So we have more than 1k in our accounts haha!
This is further evidence that the rich continue to get richer, while vast majority of Americans are living paycheck to paycheck contrary to what many folks outside this country believe. I hope that you are saving @m3mt and generating lots of steem.
I am investing everything i am generating in powering up my account for now to see where this rabbit hole leads me to.
Obviously those folks need to sign up for steemit.com!
when you save some money, you feel less worry about the future
spending it may give you some joy at the moment, but on the long run you will be exhausted.
Thanks for information
saving is very important.Saving the world does not become a hungry person.tasarruf enerjilerin daha uzun ömürlü kullanılmasını sağlar ve ekonomik kazanç sağlar.Thank you for referring to such an important topic.
It's a global epidemic just because of the way the financial system is, a broken system.
The economy is probably broken.
Crypto can be a nice way for people to overcome financial difficulties.
There is a serious improvement in the rates. the world is heading towards saving.