“Most Americans Have Less Than $1K In Cash”? Nope
Ester Bloom

In addition to the sampling size and other statistical concerns pointed out by Ester, “less than $1,000 in cash” can indicate a wide range of financial health. It certainly encompasses those living paycheck to paycheck, but could also include those who keep their money elsewhere, like in long term investments.

I definitely acknowledge that $1,000 may be a low threshold for that because I personally prefer to have a month’s worth of expenses in my checking account at all times. I know people who never keep more than $500 in there at any given time though, and I once used an ATM after someone who left their receipt in the machine and they had $100,000 sitting in their checking account.

TLDR I appreciate Ester & the Billfold for calling out these “statistics” that don’t actually measure anything meaningful.

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