Do People In Illinois Have Money In Savings?
How much money do people in Illinois have in their savings account?
Since I was a kid, my parents always told me to save money.
I would get money for things like my birthday, Christmas, and graduation. It would automatically go to the bank. I was a paperboy and I got to keep a little bit of cash, but most of it went into an account.
Thinking about it, I really didn't have any expenses growing up. I lived with my parents and they pretty much provided everything I needed. So, I didn't understand what I was saving for. Why couldn't I just blow all my money on fun things like toys?
As I got older, I realized there were things I needed to save up to purchase like car, school, clothes, concerts, going out with friends, and more.
The only thing is it was much easier to put away money when I was a kid because I really didn't have anything I needed to spend serious dollars on.
When I started to become an adult, people advised me to make sure I saved up for a rainy day. You never know what might come up. You could lose your job, your car breaks down, you need a new roof for your house, and other expenses like that.
What is a safe amount to have put away?
According to msn.com,
"Financial experts typically recommend having enough set aside to cover six months of expenses."
That's much easier said than done.
I dare to say nowadays, people have enough trouble paying for the basics like food, housing, insurance, taxes, car, school, and children. They would find it very difficult to put anything into a savings account. I know I try, but many times it just doesn't happen.
Here's how it looks in the State of Illinois.
"39% of Illinois residents have $0 saved."
"56% of Illinois residents have less than $1,000 saved."
Where are you in the world of savings?
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