Credit Card Survey Shows Forty Percent Of Americans Have No More Than $500 In Accessible Savings

The level of debt and poverty in the country was reflected in a shocking polls conducted by, a website that compares credit card offers. The survey of over a thousand individuals found that forty percent do not have more than $500 in readily accessible savings.

The survey appears to show that many gainfully employed people continue to spend virtually everything that they have coming in either by necessity or poor personal management.

What is particularly frightening is the potential for a massive social collapse if this poll is correct. It would suggest that much of the country is one paycheck away from disaster — an ominous thought if we experience a sudden economic blow. It also shows the danger for some in having readily available credit cards and sales promotions that attract customers with offers involving no money down and automatic qualification.

This result reported from these types of surveys show not only a ticking economic bomb in our society but the ever-widening separation of classes in the United States.

Source: CBS

40 thoughts on “Credit Card Survey Shows Forty Percent Of Americans Have No More Than $500 In Accessible Savings”

  1. You actually make it seem so easy with your presentation but I find this matter to be actually
    something that I think I would by no means understand. It sort of feels too
    complex and very large for me. I am taking a look ahead on your next
    publish, I’ll attempt to get the cling of it!

  2. Please, my question is :


  4. This is simple but effective: Make regular payments to your savings account. Many people set up a savings account, but don’t make regular payments.

    If possible, have the money automatically taken out every pay period. This way, you’ll have the money available for an emergency even if you don’t always remember to deposit it.

  5. idealist707
    1, October 22, 2012 at 11:57 am

    ….. BTW, it is happening here in Sweden too. B
    But just the other day didn’t you pot that the people holding the banks etc. had saved Sweden from the crap we are going through here?

    (and thanks…)

  6. nick spinelli 1, October 22, 2012 at 1:27 pm

    Sounds like you have an Italian soul. Sauce is indeed liquid gold and my old man said pasta is not food, it is oxygen.

    Make sure there’s enough sauce. I’ve heard other people say that when you’re an adult, it’s the liquid that counts. I never put up with the zeros. EM5 Navy. My shop was Electrical Tool Issue.

  7. I watched the Al Smith charity, non partisan, social mixer, and everything is hunky dory love fest the other night. I guess of the 1600 attendees that represented a true cross section within our country, the 40% with less than $500 in savings were sitting in the back. …..Oh my, why do rich people always get the best seats?

  8. It should not come as a surprise with so many people out of work or underemployed that savings could be seriously effected. Without decent jobs in this country, this statistic will get worse.

  9. Reality is determined by who you believe in to tell you what it is:

    Back in the first the Gilded Age, in the 19th century, bosses in company towns lined up their workers and marched them to vote as a bloc. Now, the Gilded Age is back , with a vengeance. Welcome to the plutocracy — the remains of the ol’ USA.

    (Bill Moyer …). The first comment in this thread was “That is life in a plutocracy.”

  10. Sounds like you have an Italian soul. Sauce is indeed liquid gold and my old man said pasta is not food, it is oxygen.

  11. “Blouise, When you say “matress” to an Italian we think of, “going to the matresses,” a much different connotation.”

    Okay … how about “under the tomato plant”? I grew up next door to a very Italian family and sauce made fresh from their own tomatoes was liquid gold. She even had a greenhouse for winter tomatoes. She taught me a lot about preparing Italian cuisine. I have my own tomato plants but no greenhouse. Plum/roma of course and if you’re really good, you plant parsley and basil with the romas as companions which enhances all three in the ground.

  12. The American hubris is not illustrated in the Titanic, however symbolic it is.

    Ours was in not guarding our republic with piles of skulls of plutocrats, to which was constantly added more over time.

    Franklin answered a woman inquirer: “Yes, Madame, you have a republic, if you can keep it.” (memory)

    Am I too strong, too radical? I think that I am too little so. When a nation is subject to pillage, rape and rampage, then harsh countermeasures are needed.

    There are so many books, reports, sources, articles which reveal this/these truths, that why the prols don’t scream: A la Bastille— amazes me.

    Have we become too apathetic, well behaved in hopes of being spared. Remember the Reverend’s words after Nazi Germany…..”and then there were none to protest when they came for me (memory).

    No one will save us from our fascists. They own the banks, the government, us—-and we have known they were there for many years now.

    MikeS sees progress. In laws yes, in hearts NO. They still hate blacks, gays, tree-huggers—-the list is long.
    And while we do that, no common cause is embraced against fascism and the police state.

  13. Re Titanic.

    Do you suppose the folks in steerage drowned first?
    They will here. If they don’t revolt first.

    We are the ones helping the oceans to rise, and the helping the pharoahs build pyramids to their honor, on an onion a day.

    Some of the rich went down on the Titanic. Few will on this ship of state. Or ship of states. The Pacific trade pact will/has invalidated national sovereignity, in favor of corporations—-and they don’t even call the corps(e) persons either.

  14. Blouise, When you say “matress” to an Italian we think of, “going to the matresses,” a much different connotation.

  15. I am part of the 40%. I had a six figure income five years ago with eight months emergency savings, 529 plan, and 401k. Serious medical issues forced me from the work force. Three year fight to get disability benefits drained every resource I had and cost me my home. I have one credit card with a limit too small to even buy a washing machine that is for life and death emergencies only. It’s tough out there. i’m not alone. There are more people like me than you realize.

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