Nearly 70% of Americans Have Less Than $1,000 in Savings

Key FindingsAlmost half of respondents — 45% — said they have $0 in a savings account. Another 24% said they have less than $1,000 in savings.The top reason respondents said they weren’t saving more was because they were living paycheck to paycheck. Nearly 33% said this obstacle was keeping them from saving, and about 20% said a high cost of living prevented them from saving more.The No. 1 thing respondents said they need to save more money was a higher salary. About 38% said having a bigger paycheck would help them save more, while 18% said lowering their debt would make it easier to set aside cash.The most common place where those with savings put their cash is in a savings account. Although 33% of respondents said they take advantage of a savings account to store their cash, 29% said they don’t have any savings.Hard working people busting their asses with 16+ hours of work shifts and multiple jobs for what?Crypto is the only answer right now to this disparity and exploitation.Source

Submitted January 02, 2022 at 01:19PM