A Boring Dystopia

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Nearly 40% of Americans have less than $500 in cash savings, survey shows (www.livenowfox.com)

submitted 4 weeks ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] smeg@infosec.pub 7 points 4 weeks ago (3 children)

That's becoming my take, too. What surveys mean to ask is liquid assets, money people have immediate access to. But most Americans are too uneducated to understand what that means, so they ask about cash. But many people probably think that's a question about how much paper money they have.

Basically, they ask a question in a dumb way to get around how dumb Americans are, but the result is a dumb statistic.

[–] iamthetot@piefed.ca 6 points 4 weeks ago

That's not at all what they asked.

We defined cash savings as checking accounts that people consider savings, savings accounts, money market accounts, brokerage/investment accounts (nonretirement), certificates of deposit (CDs) and cash at home.

[–] ILikeBoobies@lemmy.ca 2 points 4 weeks ago

Liquid assets is how I understand cash.

[–] TubularTittyFrog@lemmy.world -3 points 4 weeks ago

it's a dumb stat to push a dumb headline that seems dramatic so people can bias-confirm about how poor they are.

even if they are objectively not. i live in an area with 3 million dollar homes and 1 million dollar apartments, and every owner here will love to tell you how poor they are and how they are struggling in life and they dont' have enough money.