A Boring Dystopia

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Nearly 40% of Americans have less than $500 in cash savings, survey shows (www.livenowfox.com)

submitted 5 days ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] mrmaplebar@fedia.io 16 points 5 days ago (1 children)

Definitely. This isn't about physical "cash", this is about all liquidity across cash, checking and savings accounts. From the survey itself:

Most have little to no cushion. 14% of Americans have no cash savings, including 32% of those earning less than $30,000 a year, 20% of women and 16% of Gen Zers. Additionally, another 32% have some savings but less than $1,000. Almost half (45%) wouldn’t be able to cover more than a month of essentials if their income stopped, while just 21% could cover essentials for more than six months.

Almost half of Americans are a couple paychecks away from homelessness. It's dire.

[–] technocrit@lemmy.dbzer0.com 1 points 4 days ago* (last edited 4 days ago)

This still doesn't provide a clear definition of "cash savings". See the comment from WesternInfidels for the actual definition from the study.