Re:Dollar Tree says US$1.25 price point to become new standard
by heartbreak on Tuesday November 23, 2021 @07:01PM
(#29325277)
All good points. I was using GP’s $40/wk for the sake of argument, and “savings account” more as a figure of speech than to literally refer to a savings account (for the reasons you pointed out). I do contend that, for people who have such a small amount available for food every week, saving any amount of money (let alone $1k/mo) is extremely difficult. Life is a never ending barrage of unexpected financial hits, especially when you’re already living frugally.
Incidentally, the median US household is said by the BLS to be capable of saving $1k/mo after all ordinary expenses. For those who actually save, a savings account typically isn't the mechanism to do it. This leads to "funny" statistics pushed by news outlets on how a huge percentage of people, even HNers who have thousands or even millions saved up in mostly liquid assets, have no savings, because they're sampling either non-existent or non-useful-and-thus-empty savings accounts.