Wednesday, November 23, 2016

I Know Americans are Living Close to the Vest but This is Nuts: 69% of Americans have less than $1,000 in their Savings Accounts!

And you wonder why people voted for their pocketbooks in this last election. These numbers are sobering though.
When it comes to saving money, Americans are falling short . According to a 2016 GOBankingRates survey, 69% of Americans have less than $1,000 in their savings accounts — and 34% have no savings at all.
You think that is bad. Millennials have it even worse.
Of "young millennials" which GOBankingRates defines as those between 18 and 24 years old 72% have less than $1,000 in their savings accounts and 31% have $0. A sliver (8%) have over $10,000 saved.

"Older millennials" — defined as those between 25 and 34 aren't doing much better: 67% have less than $1,000 in their savings accounts, 33% have nothing at all, and 15% have over $10,000.
I can't imagine how hard it would be to be living with $0 to $1000 in my bank account from week to week. It would be stressful as all hell. So a tax cut, jobs programs, or talk about free trade stealing ones job hits home much harder knowing these statistics. Basically the only thing Hillary had to offer was a $15 minimum wage and some piddly tax cut that amounted to peanuts to help these 69% slice of America.

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