We defined cash savings as checking accounts that people consider savings, savings accounts, money market accounts, brokerage/investment accounts (nonretirement), certificates of deposit (CDs) and cash at home.
Well first had almost 1000 and the hotwater tank shat the bed. No big deal bought new one installed. But now my son car we just bought needed 600 in repairs. So back at square one. Sucks too because use Ally bank for my emergency fund because they give great interest rates.
Good news is spoke to wife she keeping a 1000 in her savings that she will not touch and she hoards her tip money like a dragon that we have another 500 or more in cash. Of course we using 250 of that for my son birthday. But doesn’t take her long to build that back up and she normally refuses to use it.
Love my wife we have no money issues because of her. She acts like we are super broke all the time. Me I get enough funds I blow it. But she makes me a saver and it has pull us out of the fire many times.
I believe cash savings refer to liquid assets. That is to say, a savings account is a cash savings account, whereas an IRA or 401k are not, because the cash is tied up in investments.
That’s becoming my take, too. What surveys mean to ask is liquid assets, money people have immediate access to. But most Americans are too uneducated to understand what that means, so they ask about cash. But many people probably think that’s a question about how much paper money they have.
Basically, they ask a question in a dumb way to get around how dumb Americans are, but the result is a dumb statistic.
We defined cash savings as checking accounts that people consider savings, savings accounts, money market accounts, brokerage/investment accounts (nonretirement), certificates of deposit (CDs) and cash at home.
it’s a dumb stat to push a dumb headline that seems dramatic so people can bias-confirm about how poor they are.
even if they are objectively not. i live in an area with 3 million dollar homes and 1 million dollar apartments, and every owner here will love to tell you how poor they are and how they are struggling in life and they dont’ have enough money.
i remember being in college and people whining about how broke they were, when they were dropping $5000 on a single spring break trip… statistically yeah those people are ‘broke’ but their parents were often millionaires.
What does cash savings even mean? I would assume that most people have their savings in a bank account…
https://www.depositaccounts.com/blog/cash-savings-study.html
Well I had 1000, but bought my son a car and needed repairs. But like I keep trying.
For the first time ever I managed to put $5000 a side, then my septic drain field failed and I found out what I had been saving for.
Well first had almost 1000 and the hotwater tank shat the bed. No big deal bought new one installed. But now my son car we just bought needed 600 in repairs. So back at square one. Sucks too because use Ally bank for my emergency fund because they give great interest rates.
Good news is spoke to wife she keeping a 1000 in her savings that she will not touch and she hoards her tip money like a dragon that we have another 500 or more in cash. Of course we using 250 of that for my son birthday. But doesn’t take her long to build that back up and she normally refuses to use it.
Love my wife we have no money issues because of her. She acts like we are super broke all the time. Me I get enough funds I blow it. But she makes me a saver and it has pull us out of the fire many times.
I believe cash savings refer to liquid assets. That is to say, a savings account is a cash savings account, whereas an IRA or 401k are not, because the cash is tied up in investments.
That’s becoming my take, too. What surveys mean to ask is liquid assets, money people have immediate access to. But most Americans are too uneducated to understand what that means, so they ask about cash. But many people probably think that’s a question about how much paper money they have.
Basically, they ask a question in a dumb way to get around how dumb Americans are, but the result is a dumb statistic.
That’s not at all what they asked.
How dare you expect someone to actually read the source!
Liquid assets is how I understand cash.
it’s a dumb stat to push a dumb headline that seems dramatic so people can bias-confirm about how poor they are.
even if they are objectively not. i live in an area with 3 million dollar homes and 1 million dollar apartments, and every owner here will love to tell you how poor they are and how they are struggling in life and they dont’ have enough money.
i remember being in college and people whining about how broke they were, when they were dropping $5000 on a single spring break trip… statistically yeah those people are ‘broke’ but their parents were often millionaires.
Liquid fuckinv assets, you tedious derogatory noun.