Posted on 04/01/2014 9:01:03 PM PDT by blam
Nearly Half Of Us Couldn't Live A Month On Our Savings
Trae Bodge , RetailMeNot's The Real Deal
Apr. 1, 2014, 5:56 PM
April is Financial Literacy Month (and dreaded tax time), so let’s talk about your financial know-how. Are you financially prepared if you need to stop working for a few months due to a layoff or illness? Do you know how much money you have lying around? What about your kids? Are you setting them on a path to financial health?
RetailMeNot recently polled more than 1,000 Americans and found that overall consumers are doing pretty well on the personal finance front. As it turns out, Americans are savers: A whopping 80% have money set aside, and on average, the savings would last over eight months with no other income.
Pretty impressive! But our survey did reveal a few areas of concern:
•While a vast majority of consumers we polled have a financial safely net, nearly half don’t have enough money saved to live on for more than a month without an ongoing source of income.
•About 25% with a savings account don’t know how much is in it!
•Only 51% are confident in the knowledge or understanding of their personal finances.
•Only 22% are confident that they will be able to retire at the time and in the style they were hoping for.
(snip)
(Excerpt) Read more at businessinsider.com ...
So, we'll have to put you in that category (huge, BTW) that believes higher education is for the sole purpose of making more money? Pity that you missed the point.
I bought 2 birds this year, prices down. I shoot them all the time especially when Harry Reid or President ACA is on TV.
FYI I bought my 2 cars in 2007 with cash from savings.
DaleReed’s advice is practical. Saving money in the short run saves money in the long run. In my case I saved thousands in ‘finance charges’ aka interest.
What advice have you ever proffered which will save a FReeper money?
‘Tanks
“bird”= 1/2 share Cessna 152
2 cases, both women. My down the street neighbor inherited a paid for house, from her grand father, failed to even pay the property taxes for 5 years in a row, lost the house.
Another woman, I know well, inherited $275,000 about 3 years ago, now the money is gone and nothing to show for it.
These two I know just happen to be women, many men are equally irresponsible.
I keep telling dolts I know that if you buy gold/silver and you don’t have possession of it you will never see it if things go south.
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