JPMorgan Reveals How Much Cash You’d Need If Everything Went To Sh*t Tomorrow
Look, most Americans are broke.
I don't think that's any secret. I mean especially when you consider the student debt burden weighing down one entire demographic.
Now this isn't to say that people with access to credit and decent jobs can't weather storms, it's just to say that if we're talking about cold, hard reality defined as having enough cash and/or completely liquid assets that can be immediately accessed in a pinch, Americans are in bad shape.
Despite the fact that, ask Bankrate wrot
Hopefully you won’t delete THIS comment, H.. One can become wealthy much faster by eliminating impulse buying, using the bank’s money for free for thirty days by paying for credit card purchases in the month they were made, and saving to make major purchases with accumulated cash on hand. Why pay up to 25% interest on things that you want and don.t need just to impress your friends and/or current main squeeze?
Not buying “things that you want and don.t need just to impress your friends and/or current main squeeze” is downright unAmerican, Doctor.
Here’s a funny for you Winston: I decided to buy a new car last year, and walked into the dealership with $30,000 in cash. They hated it when I pulled out the bills to pay them after we arrive at a price. They did everything they could to get me to buy it on a contract because they had given me a low-ball price, and after I refused, they called the cops to make sure I wasn’t a drug dealer. This simple transaction took three hours!