It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Most Americans can't afford a $1,000 emergency expense

page: 2
21
<< 1    3 >>

log in

join
share:

posted on Aug, 11 2011 @ 04:32 PM
link   
Sure Americans can.

Gold is at $1800 an ounce.


Do you know how many ounces of Gold are in each graveyard? We're filthy stinking rich. Just need to dig it up. To heck with stealing copper.

There's abandoned Gold....ha ha ha!

I'm joking...don't go digging up dead people. Not yet.




posted on Aug, 11 2011 @ 05:32 PM
link   
reply to post by mjfromga
 


Well your a good parent and your doing an awesome thing by helping your kids, thats far more than I could ever say about my good for nothing parents.



posted on Aug, 12 2011 @ 07:54 AM
link   
reply to post by mjfromga
 


You really need to stop paying for your kids education. They need to accept responsibility for their education, they should pay for it. There is nothing wrong with a child working their way through college. I did it, my wife did it and so have a lot of others. They don't need to attend Harvard, or Princeton to get a good education. If more people did this we might actually have young adults who know the value of a dollar and what it means to sacrifice for what you want, and not giving in to instant gratification.



posted on Aug, 12 2011 @ 07:58 AM
link   
reply to post by Maxmars
 


You know what is worst, that my daughter works for a bank and in the last few years since the market crash, she has seen people retirement savings on th elderly members going down to almost zero as they have to spend more on needed things some people are withdrawing a few dollars here and there but in the thousands.

That is a shame.



posted on Aug, 12 2011 @ 08:09 AM
link   
yes i agree with max .i work at a factory and my company has either delayed or canceled their bi anuual cost of living increases for 3 years in a row whilr wasting money on stupid craps like robot pallet jacks that were so glitchy they had to be removed after they almosst ran over a manager. and the media portrays people living in new york
mostly work in offices with tons of money to byt all the latest fads or like csu miami where we are lead to believe
that their csi department has bought everyone iphones and that they have high tech computer interface tables where you can lay a cellphone or laptop on and every bit of info just appears on this giant lcd screen so it can be processed. i dont know anybody that would be able to pay for 1000 emergency expense.



posted on Aug, 12 2011 @ 08:23 AM
link   

Originally posted by gimme_some_truth
From what I understood when I saw this on the news ( CNN) was that, its not that most can't afford it, it's just that most, don't bother to put it aside and therefor,don't have it when they need it.


Correct-o-mundo!

But I wonder how many of these people, that the Op is referring to, actually own an iPhone?

Heck, I don't even have one yet because I still have a contract with another carrier and can't afford to pay the cancellation fee.



posted on Aug, 12 2011 @ 11:55 AM
link   
i dont have a contract phone and almost none of my friends do either we all use prepaid



posted on Aug, 12 2011 @ 02:53 PM
link   

Originally posted by proteus33
i dont have a contract phone and almost none of my friends do either we all use prepaid


This is a good idea to save some cash. When I was stationed over in Germany, and the Germans are thrifty people, I learned they stay away from contract phones. This can save someone over $75 a month. $75 dollars that can be placed in an emergency savings account or money market fund. By the end of the year, there would be $900 in that emergency fund, just based on cutting costs to your cell phone bill.



posted on Aug, 13 2011 @ 08:31 AM
link   

Originally posted by haarvik
reply to post by mjfromga
 


You really need to stop paying for your kids education. They need to accept responsibility for their education, they should pay for it. There is nothing wrong with a child working their way through college. I did it, my wife did it and so have a lot of others. They don't need to attend Harvard, or Princeton to get a good education. If more people did this we might actually have young adults who know the value of a dollar and what it means to sacrifice for what you want, and not giving in to instant gratification.


I agree - to an extent. My parents basically said, "Have a good life" when I graduated - I was completely on my own. This wasn't unusual in those days. You really can't do that to kids now. My kids do work and they get their tuition paid (one is a grad student and the other undergrad with scholarships - both engineering). But, schools are making huge cutbacks and raising tuition and fees at extraordinary rates. You want your kids to go to the best college/program they can get into which doesn't put them into mega-debt. We turned down Caltech for the expense reason and they stayed at a closer top-rated but large engineering school which gave them the Hope scholarship. City and college town living is expensive. Even with scholarships, they have $700+ books per semester (science books are expensive - even used) and several hundred in fees. They still have $2000 for a two-bedroom apartment (1/2 of that with roommate) plus utilities. There's food, car insurance, gas, spending money, birthdays/Xmas, car repair, cell phone, internet (many professors require you to take tests and send homework on-line), clothes, college parking (at $650 per car per year), health insurance, etc. You can expect your kids to work and pay some of their expenses, such as spending money, gas, frat fees, etc. However, if students are in a tough major, you want them to study and maintain good grades to keep their scholarships - so there is a limit to how much they can work. Then you have the unexpected expenses, like an emergency appendectomy ($50,000 with insurance paying all but a couple thousand). Expense-wise with two kids in college, it's been like buying a new car every year and paying cash - and that's without tuition!. LOL!



posted on Aug, 14 2011 @ 11:55 PM
link   
Good info! It is true that Americans could not manage to satisfy a sudden expense of $1,000 if it were to come up.

Article Source: More than half of Americans lack savings for emergency expenses

I think that's what most Americans are lacking. The value of being practical and thrifty. Now what will happen to them in times of economic turmoil if they can't even manage emergency expenditures? Now that's something to ponder on indeed.



posted on Aug, 15 2011 @ 07:17 AM
link   
reply to post by mjfromga
 


You are correct, however, the reason the rates are going up is simple. With more parents paying tuition, they need some way of ensuring someone stays on the tax payroll. If your kids have no student loans, then there is a good chance that they will not work for 30 years, and the government will not have exploited the tax base they would provide. So they raise the cost knowing that they can recover those taxes by making you work longer. It has nothing to do with the education, it's all about taxes.



posted on Aug, 15 2011 @ 03:38 PM
link   
But you can bet these idiots have a new SUV and an $800 tv in every room. Hell with them.



posted on Aug, 15 2011 @ 03:39 PM
link   

Originally posted by Pervius
Sure Americans can.

Gold is at $1800 an ounce.


Do you know how many ounces of Gold are in each graveyard? We're filthy stinking rich. Just need to dig it up. To heck with stealing copper.

There's abandoned Gold....ha ha ha!

I'm joking...don't go digging up dead people. Not yet.


Nothing wrong with grave-robbing. Archeologists do it for a living.



posted on Aug, 15 2011 @ 08:43 PM
link   
dear moderator and OP..forgive me but what is your point. You are stating the obvious without a clear objective. Your post reflects exactly what I can assume was a standard in 1986 1976 or even 1966. What I am saying here is that in 2008 a majority Voted for "Hope and Change" of which we have seen none.



posted on Aug, 16 2011 @ 10:29 AM
link   

Originally posted by Maxmars

Most Americans can't afford a $1,000 emergency expense


money.cnn.com

NEW YORK (CNNMoney) -- When the unexpected strikes, most Americans aren't prepared to pay for it.
A majority, or 64%, of Americans don't have enough cash on hand to handle a $1,000 emergency expense, according to a survey by the National Foundation for Credit Counseling, or NFCC, released on Wednesday.
(visit the link for the full news article)


Related News Links:
money.cnn.com
money.cnn.com
money.cnn.com
money.cnn.com


Wow that's harsh living. Australia has national health care and we pay an ambulance levy in our quarterly power bill which is like $3.00 or some tiny amount incase we need them. You guys should try to do something about your situation there. I know from experience, I was in the U.S and I had to go to a doctor it cost me $250.00.

In Aus most bulk bill so it doesn't cost a thing and if you go to one which doesn't bulk bill he/she can't charge you more than $50.00 and even then you take the receipt to a medicare office and get refunded $45.00 and everything is funded under national health care but there are down sides. If you have a gross ingrown toenail you might have to wait a while to get it removed but if you have a brain tumor you in right away and in level of that order if you know what I mean. Also if you use national health care you have to deal with public hospitals though they are of a very good standard.
edit on 16-8-2011 by steveknows because: (no reason given)

edit on 16-8-2011 by steveknows because: (no reason given)



posted on Aug, 16 2011 @ 10:43 AM
link   
Okay, a lot of you are making some very astute assumptions like these people have iphones, new suv's etc. I still have a first generation Samsung Freeform on MetroPCS which is not a contract in essence is a prepaid with a little more leeway then normal prepays and a lot of dead zones. The only job I will be able to get down in Florida is minimum wage at least for the next nine months, currently I have no vehicle we got a second hand Blazer thats pretty old but don't have the funds to put it on the road, just has insurance not any title or registration or license plate yet. I don't beleive people are living beyond their means and that's why they don't have the money to cover an emergency expense. Also I have a trailer as a home (which is paid off) no nice house at all. I think some people probably are living beyond their means and cause their own problems but a majority are just struggling to live day to day in this nation af slave labor.



posted on Aug, 16 2011 @ 10:47 AM
link   

Originally posted by Make Speed Limit 45

Originally posted by Pervius
Sure Americans can.

Gold is at $1800 an ounce.


Do you know how many ounces of Gold are in each graveyard? We're filthy stinking rich. Just need to dig it up. To heck with stealing copper.

There's abandoned Gold....ha ha ha!

I'm joking...don't go digging up dead people. Not yet.


Nothing wrong with grave-robbing. Archeologists do it for a living.


Actually a gold mine for Archeologists is rubbish dump. That's really what they look for. I mean a thousands of years old rubbish dump. You can tell alot about a society by its rubbish
edit on 16-8-2011 by steveknows because: (no reason given)



posted on Dec, 26 2014 @ 07:29 AM
link   
If you want to get out of debt you have to stop borrowing money, stop using the credit card and stop frivolous spending. Now it is time to start your emergency expense fund. Just remember, a sale at any retail or online store is NOT an emergency. When your A/C system at home goes out and it is 100+ degrees outside, that is an emergency.



posted on Dec, 26 2014 @ 07:43 AM
link   
well that has changed since this thread has been authored,and it has been lowerd. i saw this in a totally unrelated thread in a link provided by xuenchen/b] here is his post. and it is 11th fact down in his link and if you click it it take you to this link.




Count yourself fortunate, or something, if you’re among the 48 percent of Americans who can cough up a spare $400 in emergency cash without having to beg, borrow or steal. According to a Federal Reserve report on American households’ “economic well-being” in 2013, fewer than half of all Americans said they’d be able to come up with four Benjamins on short notice to deal with an unexpected expense.
More Than Half Of All Americans Can’t Come Up With $400 In Emergency Cash… Unless They Borrow


i kinda think it's true, at least going by the people i know.



posted on Dec, 26 2014 @ 10:58 AM
link   

originally posted by: Maxmars

Most Americans can't afford a $1,000 emergency expense


money.cnn.com

NEW YORK (CNNMoney) -- When the unexpected strikes, most Americans aren't prepared to pay for it.
A majority, or 64%, of Americans don't have enough cash on hand to handle a $1,000 emergency expense, according to a survey by the National Foundation for Credit Counseling, or NFCC, released on Wednesday.



Wait what? There is a place in the US where an emergency only cost $1000, who would have known...
edit on 26-12-2014 by Xtrozero because: (no reason given)




top topics



 
21
<< 1    3 >>

log in

join