CDZ Do you make money savings?

[xdangerousxdavex]

Half of America doesn t save any money - Business Insider

Nearly half of the US households don’t want to save money for tomorrow or have too low income to make savings. I don’t believe it can be true. Your savings secure your future. Do you save some part of your income? Even if one saves ten percent of weekly earnings for the nearest future, it’s saving too.

 

[FA_Q2]

Yes, I save some.

EVERYONE should.

 

[Agit8r]

Half of America doesn t save any money - Business Insider

Nearly half of the US households don’t want to save money for tomorrow or have too low income to make savings. I don’t believe it can be true. Your savings secure your future. Do you save some part of your income? Even if one saves ten percent of weekly earnings for the nearest future, it’s saving too.

A lot of Americans are deeply in debt. They aren't going to earn as much return on their savings as they are charged interest on debt. But then, our economy is based around people borrowing rather than saving.

 

[Toddsterpatriot]

Don't worry, the politicians will save for you.

 

[Moonglow]

Always pay yourself first...

 

[Silent Warrior]

I think a lot more people plan on saving as soon as they pay off the loans on their 2 new cars, boat, jet ski, snowmobiles, motorcycles, new furniture, house, camper, time share, and gaming computer. Of course if they were paid a decent wage they wouldn't have to borrow for all these essentials.

 

[Moonglow]

I think a lot more people plan on saving as soon as they pay off the loans on their 2 new cars, boat, jet ski, snowmobiles, motorcycles, new furniture, house, camper, time share, and gaming computer. Of course if they were paid a decent wage they wouldn't have to borrow for all these essentials.

I pay cash.....get a better interest rate...

 

[Toddsterpatriot]

I think a lot more people plan on saving as soon as they pay off the loans on their 2 new cars, boat, jet ski, snowmobiles, motorcycles, new furniture, house, camper, time share, and gaming computer. Of course if they were paid a decent wage they wouldn't have to borrow for all these essentials.

Essentials? LOL!
If you're not making a decent wage, you've got the wrong essentials.

 

[Silent Warrior]

[QUOTE
I pay cash.....get a better interest rate...

As do I, but I don't think we are typical.

 

[Manonthestreet]

Large percentage of society living paycheck to paycheck. My father got away with it because he never got laid off and retired with a decent pension.

 

[FA_Q2]

I think a lot more people plan on saving as soon as they pay off the loans on their 2 new cars, boat, jet ski, snowmobiles, motorcycles, new furniture, house, camper, time share, and gaming computer. Of course if they were paid a decent wage they wouldn't have to borrow for all these essentials.

I pay cash.....get a better interest rate...

Interest rate means a lot less than the simple fact that you can afford it if you are paying cash.
By its very nature, borrowing for that new car literally means you cannot afford it and is one of the terrible habits of Americans. Perpetual debt is the one way to ensure that you are always poor no matter what you make.

 

[Moonglow]

[QUOTE
I pay cash.....get a better interest rate...

As do I, but I don't think we are typical.

I grew up saving what was left over from my allowance...Plus.I don't want a bunch of the consumer goods..I used a rubber boat or a canoe...Two cars over 13 years old..And a smaller house now that I don't have a nest full...

 

[Sonny Clark]

Half of America doesn t save any money - Business Insider

Nearly half of the US households don’t want to save money for tomorrow or have too low income to make savings. I don’t believe it can be true. Your savings secure your future. Do you save some part of your income? Even if one saves ten percent of weekly earnings for the nearest future, it’s saving too.

When you have extreme poverty, homelessness, a high cost of living, low wages, part-time jobs, temporary jobs, millions receiving some form of government assistance, and some surviving off of unemployment checks, it's not easy to save for the future. We have many that have lost the equity in their homes, troubled pension funds, higher health care cost, higher education cost, and many earning less than they did 10 years ago. We have high student debt, college grads living with parents, and many single parent families. Putting money in a savings account is a luxury many can't afford. And, don't forget, employers are offering less company paid benefits, which adds additional cost to employees.

 

[Luddly Neddite]

I was homeless at 16 and decided then I would never be homeless again. While working, I was fanatical about saving money and investing. The result is that I am now retired and comfortable.

What Moonglow said above is true - always pay yourself first.

There have been many times when saving was hard to do but I found ways to do it. For example, I never spent quarters or $5 bills. Also, I never spent "found" money. Probably sounds silly but it worked and it still does. We keep a separate account for our business income and expenses as well as travel. Any found money goes into that account.

Don't bother putting your savings in a savings account because the interest is non-existent but I do recommend keeping the money separate so you're not tempted to spend it.

 

[Luddly Neddite]

I think a lot more people plan on saving as soon as they pay off the loans on their 2 new cars, boat, jet ski, snowmobiles, motorcycles, new furniture, house, camper, time share, and gaming computer. Of course if they were paid a decent wage they wouldn't have to borrow for all these essentials.

I pay cash.....get a better interest rate...

Yes.

Always pay cash.

 

[Staidhup]

The simple fact is the youth of America are programmed to be a consumer based immediate self gratification society.The savings rate in this country is pathetic, yet living beyond ones need without a care for the future will have its consequences, unfortunately those that are prudent, save, and plan for the future will pay the price, its the American way! Today its those 1 per-centers, in the future it will be those 30 per-centers.

 

[Flopper]

I think a lot more people plan on saving as soon as they pay off the loans on their 2 new cars, boat, jet ski, snowmobiles, motorcycles, new furniture, house, camper, time share, and gaming computer. Of course if they were paid a decent wage they wouldn't have to borrow for all these essentials.

I pay cash.....get a better interest rate...

Paying in cash is bane of American business. Even thou paying a retailer cash saves him money in credit expense, it means less sales because people will spend more using a credit card often on non-essential items that have a larger markup.
.

 

[Mr Natural]

Forget the rest of the crap. Independence and security are the best things money can buy.

 

[Luddly Neddite]

Forget the rest of the crap. Independence and security are the best things money can buy.

This is really the bottom line, or should be.

Those who do not plan for their own future, their retirement, catastrophic illness, their children's education are just asking for failure.

Its a not a question of liberal or conservative, left or right. Its about taking care of yourself and your family.

 

[Sonny Clark]

Forget the rest of the crap. Independence and security are the best things money can buy.

This is really the bottom line, or should be.

Those who do not plan for their own future, their retirement, catastrophic illness, their children's education are just asking for failure.

Its a not a question of liberal or conservative, left or right. Its about taking care of yourself and your family.

Good advice for those that can afford to save.