Sorry, America is Now Broke

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Bellroy-Coin-Fold

BY CHRISS W. STREET

Google Consumer Survey for the Los Angeles-based GOBankingRates.com, which publishes the best personal deposit interest rates to a million subscribers each week, found that 62 percent of Americans do not have $1,000 in savings. About 13 percent have less than $1,000; 9 percent the bare minimum to keep the account open; 28 percent have $0 in a savings account; and 21 percent do not have any savings at all.

For those Americans with the discipline or capability to save at least $1,000, about 10 percent have between $1,000 and $4,999; 5 percent have between $5,000 and $9,999; and only 14 percent have more than $10,000.

Dave Ramsey is America’s top cheerleader for getting out of debt and beginning to save. With over 4.8 million books sold, 140 weeks on the New York Times Bestsellers List, and broadcasting on 500 radio stations he advocates daily to tens of millions of broke Americans the wisdom of the Bible for personal finances:

“In the house of the wise are stores of choice food and oil, but a foolish man devours all he has.” –Proverbs 21:20

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