Are You Better Off Today Than A Year Ago? By 4-To-1, Americans Say 'No'

[RETIREDFAN1]

https://tippinsights.com/i-i-tipp-poll-are-you-better-off-today-than-a-year-ago-by-4-to-1-americans-say-no/

[DB2point0]

So 56% of all Americans, over half of the population, have either no savings or barely enough to last two months, should economic trouble occur. For most, that means they are one job loss or personal injury away from economic disaster.
 

….. I bet the majority of this group voted for Biden too.

[ctown81]

1 hour ago, DB2point0 said:

So 56% of all Americans, over half of the population, have either no savings or barely enough to last two months, should economic trouble occur. For most, that means they are one job loss or personal injury away from economic disaster.
 

….. I bet the majority of this group voted for Biden too.

Did you read the chart?

[Monte1076]

1 hour ago, ctown81 said:

Did you read the chart?

I did. And you could interpret it in different ways.

If you go from one month's savings to two months savings, technically you're better off. Right?

Between the money in my checking and savings accounts (that I share with the Mrs.), we could probably get by for four or five months (maybe longer) if we cut back on some things. My car is paid for, so instead of doubling up on my mortgage payment, I'd pay the regular amount. I'd eat cheaper foods.

[DaveTV1]

I know I'm worse off.  I've been borrowing small amounts each week from the savings I was building under President Trump.  I was actually doing better during the pandemic with Trump in office than I am now at work.  If I lost my job tomorrow it wouldn't hurt me, because I have several connections to be hired elsewhere and have already been recruited to work there.  They've said the offer is on the table anytime I want to leave.  I might have to get a second job, and I don't want to do that, but Biden might force me too.  I bet Biden could have stopped the War on Ukraine if he had threatened Russia that he would come run their economy.  He would have been far worse on them than any sanctions that have been placed on them.  

[DB2point0]

4 hours ago, ctown81 said:

Did you read the chart?

I did.  Those without savings are stupid.  Like, stupid enough to vote for biden

[DannyZuco]

Is this the chart you are wanting to talk about?  

The one with only 16% of the people having enough in savings to live for 6 months without a job or income? 

If you read the article below about how much you should have in savings as an emergency fund--you would know that those with salaried positions are usually in better situations and only need 3 months, but those that work hourly, they should have 6 months. But we know that people no longer save--because they will depend upon their Ponzi SS scheme to support them-other words--the government teat. 

Personally, because of the stimulus checks, none of which we have spent. We have 14 months saved up in case of emergencies--that would cover our house payment and all bills that are needed, meaning we would end our phones, tv, and any other "enjoyment" bill we have. 

And I am an educator, if I can save money, anyone can. 

https://www.moneyunder30.com/emergency-fund-calculator#:~:text=Summary-,How much should you save in your emergency fund%3F,and have more secure employment.

The three-month guideline is generally recommended for those who are in salaried positions and have more secure employment. The six-month recommendation is for those who have less stable employment or earn variable incomes. 

[KirtFalcon]

7 hours ago, RETIREDFAN1 said:

https://tippinsights.com/i-i-tipp-poll-are-you-better-off-today-than-a-year-ago-by-4-to-1-americans-say-no/

Only in Larry's Twilight Zone  ......

[Golfingnut]

I'm definitely worse off under Biden. I had to move to a cheaper place which right now under this storm doesn't feel real safe. No tornado safe spot here.

Fortunately I do have a little money that would hold me a couple of months, but long term not good.