Re:Unlike most millennials, Norway's are rich
by jandrewrogers on Saturday July 14, 2018 @12:07PM
(#17530860)
The median disposable income, after all normal life expenses (i.e. the "beer money" leftover) in the US is about $1000/month. The American middle class has quite a bit of money for discretionary spending and can easily afford a $500 emergency.
The oft-repeated "$500 in savings" thing was based on the savings accounts, which most Americans don't use or don't have because they aren't useful. I don't have $500 in a savings account either, but I have much more than $500 in cash available in the case of emergency. That study is frequently misinterpreted; it measured something irrelevant to how Americans manage money.
The oft-repeated "$500 in savings" thing was based on the savings accounts, which most Americans don't use or don't have because they aren't useful. I don't have $500 in a savings account either, but I have much more than $500 in cash available in the case of emergency. That study is frequently misinterpreted; it measured something irrelevant to how Americans manage money.