29% Of American Families Have Less Than $1000 In Their Saving Account

[sid]

...and 49% of American families do not have any savings account. I just heard this on the radio this morning.

[S.A. Boggs]

Could be because savings aren't worth a hoot! Can food goes up much more in a year then our savings account! Dad always said that if someone is holding onto your money then it is not your money...made sense 50 years ago as much as it does today. While the stock market was high, my bride and I cashed in a bunch of high flying stock and put into our remodel...feeling much better now!
Sam

[Vern Humphrey]

And yet Nancy Pelosi said thousand dollar bonuses were "a drop in the bucket." Shows how out of touch the Democrat leadership is.

[bruce]

The middle class is shrinking. It's that simple. It will get worse. JMHO. Sincerely. bruce.

[Major Tom]

Used to be that bank interest for savings accounts were good. Not so today! We don't have savings accounts and just stash our meager cash in our home vault. The last time we did have a savings account, I went to withdraw a large sum to buy a car. Had to fill out some forms just to get my money. So I drained the account and never looked back.

[Allen]

Used to be that bank interest for savings accounts were good. Not so today! We don't have savings accounts and just stash our meager cash in our home vault. The last time we did have a savings account, I went to withdraw a large sum to buy a car. Had to fill out some forms just to get my money. So I drained the account and never looked back.

It IS a hassle to get your money sometimes since the banks feel it is their money and not yours. They like paying near 0% for passbook savings while loaning it out at whatever % the people will pay. I have money in savings of sorts but it isn't at the bank. We used to keep a small savings account ($5000) at the bank we use for checking in case we needed to do a quick transfer. We get our checking account statement mailed to us (paper) once a month. Any savings account info is printed on the same page/pages but our bank started charging $3 a month extra to do so. While this isn't a big amount it was much more than the interest they were paying so we closed the account. The banks have gotten very sneaky about hidden fees. I don't see why anyone would have a traditional savings account at any bank.

[Mark in Ottawa]

To be fair to the banks, in most cases when an elderly person asks for a lot of money in cash, the banks usually try to be responsible and make sure that he or she is not being scammed by someone (e.g look up "IRS Scam" on Youtube) or that they are not being coerced in some way. It may seem like an affront but it is well known that elderly people are more easily taken advantage of.

[dogtag]

To be fair to the banks, in most cases when an elderly person asks for a lot of money in cash, the banks usually try to be responsible and make sure that he or she is not being scammed by someone (e.g look up "IRS Scam" on Youtube) or that they are not being coerced in some way. It may seem like an affront but it is well known that elderly people are more easily taken advantage of.

It was back in the 70s when Banks had to report transactions of $10,000 or more.

[Clark Howard]

Just what the dems have in mind. Only dems and serfs, no middle class. Regards, Clark