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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on March 18, 2009, 11:49:16 PM

Title: 50% Americans have one month savings
Post by: Bindare_Dundat on March 18, 2009, 11:49:16 PM

A MetLife study released last week found that 50% of Americans said they have only a one-month cushion -- roughly two paychecks -- or less before they would be unable to fully meet their financial obligations if they were to lose their jobs. More disturbing is that 28% said they could not make ends meet for longer than two weeks without their jobs.

http://www.marketwatch.com/news/stor...-2F199C2AD042}

Title: Re: 50% Americans have one month savings
Post by: big man on March 18, 2009, 11:51:19 PM

I can believe it. Realistically it's probably more than that with blue collar workers

Title: Re: 50% Americans have one month savings
Post by: Parker on March 19, 2009, 12:10:49 AM

Quote from: Bindare_Dundat on March 18, 2009, 11:49:16 PM

A MetLife study released last week found that 50% of Americans said they have only a one-month cushion -- roughly two paychecks -- or less before they would be unable to fully meet their financial obligations if they were to lose their jobs. More disturbing is that 28% said they could not make ends meet for longer than two weeks without their jobs.

http://www.marketwatch.com/news/stor...-2F199C2AD042}

Most of us are living from paycheck to paycheck. Especially if you live in high price states.

Title: Re: 50% Americans have one month savings
Post by: Hereford on March 19, 2009, 09:11:47 AM

Quote from: Parker on March 19, 2009, 12:10:49 AM

Most of us are living from paycheck to paycheck. Especially if you live in high price states.

Yup. And the upsurgance of unending credit cards makes matters worse.

A lot of people look like they are doing great with new SUVs, nice houses and big screens, yet are just one bad day away from total ruin.

Title: Re: 50% Americans have one month savings
Post by: loco on March 19, 2009, 10:40:53 AM

Quote from: Bindare_Dundat on March 18, 2009, 11:49:16 PM

A MetLife study released last week found that 50% of Americans said they have only a one-month cushion -- roughly two paychecks -- or less before they would be unable to fully meet their financial obligations if they were to lose their jobs. More disturbing is that 28% said they could not make ends meet for longer than two weeks without their jobs.

http://www.marketwatch.com/news/stor...-2F199C2AD042}

That's good news.  I thought most were not saving anything, even spending more than they earn by using credit cards, taking out money on their mortgage, etc.  The smart thing to do is to have more like six month savings, but they could have done a lot worse.