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Two-thirds would struggle to cover $1,000 emergency...

MickeyW

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NEW YORK (AP) — Two-thirds of Americans would have difficulty coming up with the money to cover a $1,000 emergency, according to an exclusive poll released Thursday, a signal that despite years after the Great Recession, Americans' finances remain precarious as ever.

Two-thirds of US would struggle to cover $1,000 emergency
 

BitterPill

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MickeyW

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That is seriously pathetic!


I was there once upon a time 40 years ago, with a new family, new low paying job and child support from a previous marriage. But that was only for 2 years or so out of 50+ years in the work force.
 

BitterPill

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That is seriously pathetic!


I was there once upon a time 40 years ago, with a new family, new low paying job and child support from a previous marriage. But that was only for 2 years or so out of 50+ years in the work force.

It is pathetic, and seriously so.
 

MickeyW

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American's suffer, and Mickey celebrates!


I'm not celebrating.....and Americans suffer mostly on their own accord and stupidity!
Believing in liberal Democrats is a path in that direction.
 

TheDemSocialist

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I'm not celebrating.....and Americans suffer mostly on their own accord and stupidity!
Believing in liberal Democrats is a path in that direction.

"Liberals bad" beep boop bop.
 

Winchester

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cpwill

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NEW YORK (AP) — Two-thirds of Americans would have difficulty coming up with the money to cover a $1,000 emergency, according to an exclusive poll released Thursday, a signal that despite years after the Great Recession, Americans' finances remain precarious as ever.

Two-thirds of US would struggle to cover $1,000 emergency

Alternative headline: Approximately 66% of Americans Are Financial Idiots.


FFS. Emergency Funds, people. This isn't that difficult.
 

OrphanSlug

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NEW YORK (AP) — Two-thirds of Americans would have difficulty coming up with the money to cover a $1,000 emergency, according to an exclusive poll released Thursday, a signal that despite years after the Great Recession, Americans' finances remain precarious as ever.

Two-thirds of US would struggle to cover $1,000 emergency

What is even more amazing is all the political finger pointing back and forth while we watch this economic race to the bottom income quintile... that some try to convince me is not happening.
 

cpwill

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Thanks Obama.

No, this is 'thanks stupid American culture of debt-fueled consumption'.


"Hey, we spent all our money on stuff, and then we borrowed a bunch more money to spend it on stuff, and now for some reason we don't have any money in the bank. What gives?" :roll:
 

Middleground

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I'm not celebrating.....and Americans suffer mostly on their own accord and stupidity!
Believing in liberal Democrats is a path in that direction.

Says the guy who worships (see avatar) the Godfather of the destruction of the middle class. The irony is face palm funny.
 

Winchester

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No, this is 'thanks stupid American culture of debt-fueled consumption'.


"Hey, we spent all our money on stuff, and then we borrowed a bunch more money to spend it on stuff, and now for some reason we don't have any money in the bank. What gives?" :roll:

Yeah I know. I'm happy I come from a long line of skinflints and they taught me well. I do not know what the hell happened to both of my sisters as they both fall into the 66% and there is no reason for them to be there.
 

cpwill

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Yeah I know. I'm happy I come from a long line of skinflints and they taught me well. I do not know what the hell happened to both of my sisters as they both fall into the 66% and there is no reason for them to be there.

Live like no one else, and later you can live like no one else.
 

Lord Tammerlain

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No, this is 'thanks stupid American culture of debt-fueled consumption'.


"Hey, we spent all our money on stuff, and then we borrowed a bunch more money to spend it on stuff, and now for some reason we don't have any money in the bank. What gives?" :roll:

Yeah I know. I'm happy I come from a long line of skinflints and they taught me well. I do not know what the hell happened to both of my sisters as they both fall into the 66% and there is no reason for them to be there.


A culture that I believe that started to take hold in the 1980's with the advent of easy credit. Take a loan out for a new pair of shoes, that jacket, oh and a new tv.
 

Visbek

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I'm not celebrating.....and Americans suffer mostly on their own accord and stupidity!
Believing in liberal Democrats is a path in that direction.
Good grief. Give it a rest.

This is not a new thing -- if you read your own link, you'd see this has been the case for decades.

It isn't a partisan thing, and people didn't get in this position because of their political beliefs. Again, two thirds of Americans don't have $1000 in emergency cash -- and lots of those people are conservatives and Republicans.

Financial illiteracy is definitely a part of it. So are flatlining wages, readily available credit, and the ongoing transition from an industrial to a service economy.

Maybe instead of reaching for your partisan punching bag, you should read up a little bit on why Americans have such low savings amounts and rates.
 

Cephus

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That is seriously pathetic!

I was there once upon a time 40 years ago, with a new family, new low paying job and child support from a previous marriage. But that was only for 2 years or so out of 50+ years in the work force.

Seriously. I just bought a new house and dropped almost $70k in cash on it. It's probably been 40 or so years since I couldn't cover a $1000 or even a $10,000 debt at any time.
 

Howler63

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Rock solid, well paying, middle class building jobs are a thing of the past. it's hard to save anything living from paycheck to paycheck in a service based economy.
 

cpwill

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A culture that I believe that started to take hold in the 1980's with the advent of easy credit. Take a loan out for a new pair of shoes, that jacket, oh and a new tv.
I tend to look at it as a generational shift as the if-it-feels-good-do-it Boomers moved into prime consumption years, replacing the Great Depression survivors.

Sent from my XT1526 using Tapatalk
 

Winchester

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Rock solid, well paying, middle class building jobs are a thing of the past. it's hard to save anything living from paycheck to paycheck in a service based economy.

This is nothing new, economy could be roaring and good jobs plentiful and you'd still find that 2/3 live at or beyond their means.
 

jmotivator

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NEW YORK (AP) — Two-thirds of Americans would have difficulty coming up with the money to cover a $1,000 emergency, according to an exclusive poll released Thursday, a signal that despite years after the Great Recession, Americans' finances remain precarious as ever.

Two-thirds of US would struggle to cover $1,000 emergency

I'd be interested to know what percentage of that 66% spend over $1000 a year on cable and cell phone...
 

Winchester

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Possibly, but a weak economy based on McJobs isn't going to help anyone save for a rainy day, is it?

Nope, people are incapable of doing with less.
 
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