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Over half of Americans say they're not even close to financial freedom (scrippsnews.com)

submitted 1 year ago by Blaze@discuss.tchncs.de to c/personalfinance@lemmy.ml

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About 36% of U.S. adults say they have less than $1,000 in their savings accounts.

For analysis of the political views of that media: https://ground.news/article/over-half-of-americans-say-theyre-not-even-close-to-financial-freedom

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[–] GregoryTheGreat@programming.dev 2 points 1 year ago* (last edited 1 year ago) (3 children)

With the interest rates of savings accounts why bother. Just leave it in checking. Or cash.

Or are we trying to act surprised most people don’t have money?

[–] silent_water@hexbear.net 4 points 1 year ago

it's just further evidence that the rot in the economy is reaching a critical point. either some socdems push through reforms so the system can limp on or we'll hit the 3 days of missed meals tipping point.

[–] UnverifiedAPK@lemmy.ml 3 points 1 year ago (1 children)

So instead of 1% interest your suggestion is 0% interest?

[–] Turkey_Titty_city@kbin.social 4 points 1 year ago

savings and COD are 4-5+% right now.

[–] facow@hexbear.net 1 points 1 year ago

Interest rates are like 5%