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user-inactivated · 2984 days ago · link · · parent · post: Everyone in America is More Broke Than You Think - What About You, Hubski?
Bingo. The real number to look at is net savings. If you make 100K a year and only have 500 bucks in the bank you are one big hit away from serious trouble. There was an article on savings a while ago here on Hubski. Found a crap link here 1/3 of Americans have less than 1000 in savings, and that is the scary number.LOL this is tax data. This is the part where you hide as much income as you can and play up every possible expense you've ever made. Here's what they say:
And the problem is masked by the fact that 72% of Americans have credit cards. So - rather than socking it away for a rainy day, we know that we can just borrow it and pay the interest. Who says we need credit reform?