Typical American Household has Only $...

Typical American Household has Only $100 After Monthly Expenses

There are 31 comments on the The Skanner story from Jan 4, 2013, titled Typical American Household has Only $100 After Monthly Expenses. In it, The Skanner reports that:

According to findings from the Center for Responsible Lending's newest report, The State of Lending in America and Its Impact on US Households , the typical household has just $100 left each month after paying for basic expenses and debt payments.

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Level 5

Since: Jun 12

Location hidden

#24 Jan 6, 2013
Pink Salmon wrote:
My husband and I live far below our means.
We don't even own (and refuse to buy) a car).
That's really good you and your husband conserve like that. It'll save you a lot in the future. And to save on gas is a huge help. I'm strongly considering driving less and taking the lightrail more here, particularly during winter. My fiance says that's stupid when we own our vehicles. I think it'll not only save on money but also the pollution in the air and chance of getting into a car accident.

Level 3

Since: Jun 10

Location hidden

#25 Jan 7, 2013
LAcreole wrote:
<quoted text>
That's really good you and your husband conserve like that. It'll save you a lot in the future. And to save on gas is a huge help. I'm strongly considering driving less and taking the lightrail more here, particularly during winter. My fiance says that's stupid when we own our vehicles. I think it'll not only save on money but also the pollution in the air and chance of getting into a car accident.
Exactly! Too bad....most Americans do not think in those terms.
I had a co-worker who cried (tears) when her car was in the repair shop and she had to take to the train. Some people don't want to appear 'poor' to others.

Since: Oct 09

Location hidden

#26 Jan 7, 2013
Pink Salmon wrote:
<quoted text>
I think the blame lies on eating out (instead of home preparing dinner at home), and everyone in the household driving separate cars. No one wants to car pool or take public transportation anymore.
Cell phones are necessary, but without all of the frills (camera, text, etc). Spending $5.00 -$8.00 at coffee houses is just wasteful.
If we just look around, we will see how many extras we can do without.
This is the truth because everybody wants to keep up with the jones.

“IM Loving in”

Level 8

Since: Mar 11

Loveland Ohio

#27 Jan 7, 2013
Axe V11 wrote:
<quoted text>
That's just ignorant.
You can stash 6 months of expenses in stock, funds or even gold and make interest in the interim. There's absolutely no reason to lock away cash in a manner that doesn't earn interest.
Why both with a savings account? Just bury it in a coffee can in the back yard.
smdh
stocks ad bonds are like going to Vegas in putting money in the slots

“IM Loving in”

Level 8

Since: Mar 11

Loveland Ohio

#28 Jan 7, 2013
and*
the light has come

Danville, IL

#29 Jan 7, 2013
people should live according to their income. What they buy or not buy should depend on if they can afford it. Have money is fine but just to have money and not enjoy what you work for do not make sense. If you do not enjoy life as you live, you will be dead as if you never was alive.

Level 3

Since: Jun 10

Location hidden

#30 Jan 7, 2013
sassyntrashy wrote:
<quoted text>This is the truth because everybody wants to keep up with the jones.
.....and that's why most American's are broke.

Level 3

Since: Jun 10

Location hidden

#31 Jan 7, 2013
*Americans* not American's lol

Level 5

Since: Jun 12

Location hidden

#32 Jan 7, 2013
Pink Salmon wrote:
<quoted text>
Exactly! Too bad....most Americans do not think in those terms.
I had a co-worker who cried (tears) when her car was in the repair shop and she had to take to the train. Some people don't want to appear 'poor' to others.
Exactly. Well there's a large number of people here in CO particularly in the Denver metro area who have vehicles but still would drive to the nearest lightrail station and take the lightrail everyday to work instead. Or they'll walk to the lightrail leaving their vehicles at home to take it to work and school. Other than that, many others ride their bicycle to work and school. CO is like bicycling country. It's a very very green state. A lot less pollution and libertarians and liberals here so they tend to conserve a lot on many things. I was confused as to how so many people didn't have vehicles here, so I thought, until I've seen and talked to people who said they do but would rather take the lightrail instead. It makes sense sometimes.
Jon

Crawfordsville, IN

#33 Apr 5, 2013
I made $84K self employed last year, with minimal business expenses, and supporting a family of four at the end of the year have nothing saved, except for tax money (and still will owe for taxes). Overall we don't over spend, maybe we could cut $330 per month with less restaurants/movies/stupid stuff. However,our cars are paid for. We do hve to pay for our own health insurance being self employed. When my accountant told me about tax bill I became angry with us. Man we way over spent. Upon analysis, we really didn't. Scary. $84K in INDIANA is tight in 2013. I can imagine what life would be like if we still lived in So. California.

“The Love Below”

Level 8

Since: Apr 10

ATL

#34 Apr 5, 2013
I have more than a 100 dollars.

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