No, this MSN Money writer is not crazy. Her family's expenses are $5,000 per month and this is about having 3 months savings. Three months is kind of the industry standard for emergency savings. Whether it is loosing/quitting a job, getting injured, family emergency, etc, most of these things can be resolved in a couple months. The second step and a more advanced savings will be for 6 months, but 3 is a good start. read article...Imagine if there was a lifestyle of saving in the US.
Imagine if people were more concerned with the amount of savings they had stashed away, instead of being obsessed with all the stuff there is to be had.
Imagine if the news was talking about how long people were able to live off their savings instead of how long people are waiting in line to get government assistance.
Imagine if people were more concerned with the amount of savings they had stashed away, instead of being obsessed with all the stuff there is to be had.
Imagine if, when people knew they wanted to buy something, they saved up for it instead of using credit and using all of their monthly income.
Us Americans are experts at using whatever money we have. If we get more, there is always something to buy and we'll find a way to use it. Our grand parents always told us to save money. They saw what happened on October 29, 1929. Why is it that the saying, “Those who don't know history are destined to repeat it” seems to be continually forgotten.
A modern take on posessions from Tyler Durden... (2:08)
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