What is the average checking/saving account balance of Americans?

[FinitoxDinamita]

Thoughts?...

[JimRaynor]

[Eddy Current]

I've heard a scary number of people in America would be in trouble if an unexpected $400 expense came up. That's a disgrace for a country like America.

[Motorcity Cobra]

I've heard a scary number of people in America would be in trouble if an unexpected $400 expense came up. That's a disgrace for a country like America.

Interest rates don't encourage people to save. If a $400 expense came up they'd charge it to a credit card

[siablo14]

Interest rates don't encourage people to save. If a $400 expense came up they'd charge it to a credit card

Word. I only see 0.01 or 0.02 added each month.

[JasonBoxing]

Thoughts?...

Anyone that have a big checking/saving account is a idiot for not investing. A better question will be what is the average total investment+checking+savings of Americans or what is the average income of Americans. The answer will be very low for both.


But if you have 500 grand, realistically 400 grand of that should be in tied up in investments of some sort(Real estate/stocks/funds etc etc)

[WallabeeKing]

Muhfuccas need Dave Ramsey in their life.

[BostonGuy]

I have two checking accounts and average around 4-8k for both

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Around 60% of Americans have less than $1,000 in traditional savings.

Not sure if you can blame that on "the system". It's not like they're homeless or in insurmountable debt. They're getting by but they have no emergency savings... IE they have no self-control and spend money as soon as they have access to it.

Guess we need to rewire the human brain.

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