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Mom Confessions Mom Confessions

study finds that half of americans lack a savings account

Anonymous
Posted by Anonymous
  • 22 Replies

 

Poll

Question: Do you have enough in savings to last you 3 months in a emergency?

Options:

yes.

yes. we have more than 3 months saved

no. close to 3 months saved

no. not close at all to 3 months

we don't have a savings


Only group members can vote in this poll.

Total Votes: 47

View Results

http://www.npr.org/2013/01/30/170561872/study-nearly-half-in-u-s-lack-financial-safety-net

 

so this is a poll ( you don't have to really respond with your choice) to see how close the poll results from cafemom and the study results are.

Do you have a 3 month emergency savings?  take your montly bills and times it by 3.

Posted by Anonymous on Feb. 5, 2013 at 11:55 AM
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Replies (1-10):
JDmommyJD
by the sauce is boss on Feb. 5, 2013 at 11:56 AM
More than.
Posted on CafeMom Mobile
Anonymous
by Anonymous 1 - Original Poster on Feb. 5, 2013 at 11:59 AM

bump

redneckmama4
by Loree on Feb. 5, 2013 at 12:01 PM
I watched a millionaire on the news that stated that is one of the biggest misconceptions.
Posted on the NEW CafeMom Mobile
Anonymous
by Anonymous 2 on Feb. 5, 2013 at 12:02 PM
1 mom liked this
Yes. House is paid off, cars are paid off, and we have over 40,000 in savings. We would be okay for quite a while.
Anonymous
by Anonymous 1 - Original Poster on Feb. 5, 2013 at 12:03 PM
What is?


Quoting redneckmama4:

I watched a millionaire on the news that stated that is one of the biggest misconceptions.

Anonymous
by Anonymous 3 on Feb. 5, 2013 at 12:06 PM

We are paid ahead about 4 months in bills but we don't have 3 months worth of money in our bank savings account..we do have a chunk some in a tsp account if we needed to you basically take a loan out against yourself and are required to pay back with interest in a time frame you specify so it could take you 10 years or a year depending on what you chose..the interest you pay goes into your account.

Anonymous
by Anonymous 4 on Feb. 5, 2013 at 12:14 PM

We had about 2 months in savings until dh lost his job last summer. We used that to live on until his unemployment came through. Through this time of unemployment we sure have learned how much less we can actually live on. When he gets back to work, we sure will be saving alot more!

redneckmama4
by Loree on Feb. 5, 2013 at 3:17 PM
1 mom liked this
That a huge savings is a must. Or the way to financial success. Just a different view.

Quoting Anonymous:

What is?




Quoting redneckmama4:

I watched a millionaire on the news that stated that is one of the biggest misconceptions.

Posted on the NEW CafeMom Mobile
Anonymous
by Anonymous 5 on Feb. 5, 2013 at 3:22 PM

We don't. We could if I wanted to keep all our money in our account and make the minimum debt repayment (which would add interest and stress). But as soon as any money comes in, I pay down any bills that I can! I hate having debt!! (its all "good" debt--not "stuff" debt, by the way)

DH is making me leave most of our tax return in our account lol

Anonymous
by Anonymous 6 on Feb. 5, 2013 at 3:26 PM

I think it depends.  If you are receiving 4% interest on your savings account and have a credit card balance charging you 19% interest, then I think you need rethink things.  My credit cards are paid in full every month, we own all our cars - the only debt we have is the mortgage,so yes, we have a large savings account just in case all of our investments tank.

Quoting redneckmama4:

That a huge savings is a must. Or the way to financial success. Just a different view.

Quoting Anonymous:

What is?




Quoting redneckmama4:

I watched a millionaire on the news that stated that is one of the biggest misconceptions.



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