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Forum » Is it true that Americans are bad at saving money?
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Thread: Is it true that Americans are bad at saving money?

post 1613734951 08-16-2020, 05:03 PM
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Is it true that Americans are bad at saving money?

I keep hearing that and I don't buy it. At least it doesn't seem that difficult to do, unless you're deep in debt or something.

The average American makes about $ 5000 to $ 6000 net income per month. I'm not sure exactly how much the average person will spend on rent / mortgage, food etc., but even if half of that remains, you can still save AT LEAST a thousand dollars a month.

So what am I missing here?
post 1613735071 08-16-2020, 05:04 PM
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$6000 a month is average in the US?

I feel like this is wildly inaccurate.
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post 1613735151 08-16-2020, 05:04 PM
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That’s absurd.

Very few people take home 5-6k per month.
post 1613735381 08-16-2020, 05:05 PM
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Originally Posted By UACdarknova⏩
$6000 a month is average in the US?

I feel like this is wildly inaccurate.
No it's not. That's about 72k net income a year? I intentionally went on the lower side to make my point.
post 1613735431 08-16-2020, 05:06 PM
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Many are. I'm not, I'm a stingy bastard.

Many Americans are full retard though when it comes to spending.

You are definitely wrong about the 5-6k net income being average or whatever though.
post 1613735501 08-16-2020, 05:06 PM
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post 1613735681 08-16-2020, 05:08 PM
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Originally Posted By Dorich⏩
No it's not. That's about 72k net income a year? I intentionally went on the lower side to make my point.
See this chit misc? People actually believe when you say make 100k minimum.
post 1613735721 08-16-2020, 05:08 PM
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I’m averaging 3.6-4K/mo take home. I usually save 700-800$ each paycheck. I guess it’s not bad. I don’t have kids or a wife.
post 1613735821 08-16-2020, 05:09 PM
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Originally Posted By Dorich⏩
No it's not. That's about 72k net income a year? I intentionally went on the lower side to make my point.
Well you called it net, and the average / median incomes in the US are not even $72k gross. Try more like $60k, and that's for households and not individuals
post 1613735931 08-16-2020, 05:10 PM
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Originally Posted By Bosko⏩
Take home on that would be maybe 4K per month.
post 1613735961 08-16-2020, 05:10 PM
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The Northeast is the most affluent part of the U.S., where the median household income is $70,113. Americans in the West received nearly as much, with earnings of $69,520 per year. Those in the Midwest were slightly behind, at $64,069 per year. On the bottom end of the spectrum is the South, where the median household income is $57,299 a year.

https://www.investopedia.com/persona...age-income-us/
post 1613736271 08-16-2020, 05:12 PM
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Originally Posted By Dorich⏩
No it's not. That's about 72k net income a year? I intentionally went on the lower side to make my point.
The average American isn't making 72k take home after taxes...
post 1613736311 08-16-2020, 05:13 PM
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Originally Posted By Destor⏩
Well you called it net, and the average / median incomes in the US are not even $72k gross. Try more like $60k, and that's for households and not individuals
HOUSEHOLDS making only $60k gross? Lol what?
post 1613736411 08-16-2020, 05:13 PM
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Net 6k lol yeah right
post 1613736551 08-16-2020, 05:14 PM
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Originally Posted By WeBoutDat⏩
Take home on that would be maybe 4K per month.
No, it will be less than that (generally significantly less) in the vast majority of cases.
post 1613736601 08-16-2020, 05:15 PM
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Originally Posted By Bosko⏩
Originally Posted By Destor⏩
average / median incomes in the US and that's for households and not individuals
Originally Posted By nn586⏩
median household income median household income
To be fair the median is going to skew on the lower end because we have a lot more unskilled workers than people in professional positions.

If you're only making median/average and you're not on drugs or retarded you're an underachiever.
post 1613736731 08-16-2020, 05:16 PM
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Originally Posted By ThisIsMyAlias⏩
To be fair the median is going to skew on the lower end because we have a lot more unskilled workers than people in professional positions.

If you're only making median/average and you're not on drugs or retarded you're an underachiever.
median is right down the middle. 50% of the people make less than that, 50% make more than that. It's not average
post 1613736871 08-16-2020, 05:17 PM
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[QUOTE=nn586 post_id=1613735961]The Northeast is the most affluent part of the U.S., where the median household income is $70,113. Americans in the West received nearly as much, with earnings of $69,520 per year. Those in the Midwest were slightly behind, at $64,069 per year. On the bottom end of the spectrum is the South, where the median household income is $57,299 a year.
stopedia.com/personal-finance/what-average-income-us/[/url][/QUOTE]
intredasting


I would actually much rather live in the South making 57K than northeast making 70K. 70K in places like New Jersey is absolutely horrible
post 1613736901 08-16-2020, 05:18 PM
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Originally Posted By ATB107⏩
median is right down the middle. 50% of the people make less than that, 50% make more than that. It's not average
See? Like this guy, if he only makes the median he's doing pretty good since he's clearly a fuking retard
post 1613737091 08-16-2020, 05:19 PM
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Originally Posted By ThisIsMyAlias⏩
To be fair the median is going to skew on the lower end because we have a lot more unskilled workers than people in professional positions.

If you're only making median/average and you're not on drugs or retarded you're an underachiever.
There's also age and location to consider, but then there's also cost of living


Many considerations, a single number doesn't tell you all that much
post 1613737361 08-16-2020, 05:21 PM
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Originally Posted By ThisIsMyAlias⏩
To be fair the median is going to skew on the lower end because we have a lot more unskilled workers than people in professional positions.

If you're only making median/average and you're not on drugs or retarded you're an underachiever.
That's Mean, not Median.
post 1613737371 08-16-2020, 05:21 PM
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Originally Posted By Destor⏩
There's also age and location to consider, but then there's also cost of living
Fair point, most miscers are in their late 20s+ though so should be atleast somewhat established in their career and not tapering off into retirement yet, which further solidifies my point since the formative employment and sunset years will likely earn less than they will/did during the zenith of their earning potential.
post 1613737411 08-16-2020, 05:22 PM
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Originally Posted By ThisIsMyAlias⏩
See? Like this guy, if he only makes the median he's doing pretty good since he's clearly a fuking retard
I misunderstood your post


but even so - that's household income. Median individual income is like 40-50K. For professionals, it's probably like 70-80K...still nothing special. Misc thinks anything below 250K is poverty
post 1613737541 08-16-2020, 05:22 PM
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Originally Posted By ThisIsMyAlias⏩
Fair point, most miscers are in their late 20s+ though so should be atleast somewhat established in their career and not tapering off into retirement yet, which further solidifies my point since the formative employment and sunset years will likely earn less than they will/did during the zenith of their earning potential.
most people don't make much between 20-35. Your real peak earnings are actually 40-60
post 1613737711 08-16-2020, 05:24 PM
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post 1613737781 08-16-2020, 05:25 PM
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Originally Posted By ThisIsMyAlias⏩
See? Like this guy, if he only makes the median he's doing pretty good since he's clearly a fuking retard
What’s the point of making 100k in large coastal expensive city ?? I hope you’re not bragging about making 100k in Nyc or la lmao
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post 1613737791 08-16-2020, 05:25 PM
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Originally Posted By ThisIsMyAlias⏩
Fair point, most miscers are in their late 20s+ though so should be atleast somewhat established in their career and not tapering off into retirement yet, which further solidifies my point since the formative employment and sunset years will likely earn less than they will/did during the zenith of their earning potential.
Definitely. I think earnings tend to peak closer to the 40s though, maybe even more like 50ish to 60
post 1613737821 08-16-2020, 05:26 PM
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Originally Posted By Polaris⏩
That's Mean, not Median.
Mean is all the wages added together and divided, the average.
Median is all the wages put in order and pick the one in the middle.

What exactly are you trying to correct about my statement?


If you have 100 people and 65% are unskilled labor, 30% are professionals, and 5% are management the professional who is making median wage is a loser.
post 1613738031 08-16-2020, 05:28 PM
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Originally Posted By Dorich⏩
I keep hearing that and I don't buy it. At least it doesn't seem that difficult to do, unless you're deep in debt or something.

The average American household makes about $ 5000 to $ 6000 net income per month. I'm not sure exactly how much the average person will spend on rent / mortgage, food etc., but even if half of that remains, you can still save AT LEAST a thousand dollars a month.

So what am I missing here?
The first assumption. You've got net confused with gross. The average American household makes $5-6k a month gross. After taxes, insurance, and other deductions they make about $3500-4k net.

I bring home $5500/month net after taxes, insurance, some other deductions like life insurance, colonial (like Aflac) and my contribution to my pension. That's on right about $100k a year gross income.
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