Do you ever get the feeling that saving money is a daunting task? It can be overwhelming to think about paying off debt, building an emergency savings fund, and setting money aside for retirement. In fact, the thought of not having any savings can be downright scary.
Unfortunately, the reality is that many Americans struggle to save money, and the statistics are bleak. From scary debt facts to shocking statistics on how many households have no savings at all, this blog post will explore the scary truth about saving money. We’ll also look at some ways to overcome the fear and start building your own scary savings accounts. And if you’re in the mood for some fun, we’ll even throw in some scary games for 2017 that won’t break the bank. Let’s get started!
How to Save Money (Scarily) This Halloween Season
It’s that time of year again – spooky season! While we’re all excited about Halloween, it’s easy to get caught up in the excitement and overspend. But fear not, dear reader. There are plenty of ways to save money and still have a fright-tastic time this Halloween. So, put on your favorite costume and let’s get started.
DIY Your Costume
When it comes to Halloween costumes, why not get creative and make your own? Not only is this a fun and engaging process, but it’s also an excellent way to save money. You don’t need to be a DIY genius to pull off a great costume. Simply look for inspiration on Pinterest or YouTube, gather the materials you need, and get started. From a classic ghost costume to a spooky skeleton outfit, the possibilities are endless.
Shop Discount Stores
If you’re not the creative type or simply don’t have the time to make a costume from scratch, no worries. There are plenty of discount stores that offer great deals on costumes, decor, and other Halloween essentials. Look for stores like Party City, Walmart, or Dollar Tree, where you can find affordable items that won’t break the bank.
Host a Potluck Party
Want to throw a Halloween party but don’t want to spend a ton of money? Host a potluck party! This way, everyone contributes a dish and you can focus on providing some spooky decor and drinks. This is a great way to save money while also spending quality time with friends and family.
Choose a Budget-Friendly Venue
If you’re looking to go out and celebrate Halloween, consider choosing a budget-friendly venue. Look for local bars or venues that offer drink specials or discounts for Halloween. Alternatively, opt for free outdoor events like a neighborhood block party or community haunted house.
Discount Candy
Finally, we can’t forget about the candy. Instead of buying expensive bags of candy at your local grocery store, consider visiting discount retailers like Costco or Sam’s Club where you can buy in bulk for a lower price. Alternatively, wait until the day after Halloween when stores often have steep discounts on Halloween items.
In conclusion, saving money this Halloween doesn’t have to be scary. With a little creativity and planning, you can enjoy a spooktacular season without breaking the bank. Whether it’s DIY costumes, budget-friendly parties, or discounted candy, there are plenty of ways to save money this Halloween season.
Scary Debt Facts
Nobody likes debt, but it’s frightening how easy it can be to accumulate. Here are some sobering and scary facts about debt that may make you think twice before swiping that credit card.
The national average credit card debt is over $5,000
According to a recent study, the average credit card debt for a US adult is over $5,000. That’s a lot of money to owe, especially when you consider that credit card interest rates can be as high as 25%.
Student loans are a major source of debt for millennials
Millennials are facing a staggering amount of debt, with student loans being a major contributor. The average college graduate has over $30,000 in student loan debt, which can take years – if not decades – to pay off.
Medical debt affects millions of Americans
Even with insurance, medical bills can rack up quickly and easily. One shocking fact is that over 62% of all bankruptcies in the US are caused by medical bills.
You could end up paying more than double the original price
Thanks to high interest rates, it’s not uncommon for borrowers to end up paying more than double the original price of the item they purchased on credit. In other words, buying something on credit could end up costing you twice as much in the long term.
Debt can lead to poor mental health
Debt isn’t just a financial problem – it can also take a toll on your mental health. Studies have shown that those with high levels of debt are more likely to suffer from depression, anxiety, and other mental health issues.
Remember, it’s always better to live within your means and avoid unnecessary debt. Stay safe, and stay away from scary debt!
Scary Games 2017
Are you looking to get your adrenaline pumping this Halloween season? Look no further than the latest spooky video games to hit the market. Here are our top picks for the scariest games of 2017:
1. Resident Evil 7: Biohazard
This installment of the classic Resident Evil franchise is a return to its horror roots. Play as protagonist Ethan as he searches for his missing wife in a derelict Louisiana mansion inhabited by a family of cannibals. With a first-person perspective and immersive graphics, this game is not for the faint of heart.
2. Outlast 2
The sequel to the critically acclaimed Outlast takes you to the Arizona desert where you play as journalist Blake Langermann investigating a murder in a remote town. Creepy cultists and jump scares abound in this game that will have you on the edge of your seat.
3. Little Nightmares
This indie game puts you in the shoes of the small, raincoat-clad Six as she navigates a surreal world full of giant, grotesque creatures. With a Tim Burton-esque aesthetic and haunting soundtrack, this game is a must-play for fans of atmospheric horror.
4. Observer
In this cyberpunk horror game, you play as a neural detective in a dystopian future where you must hack the minds of suspects to solve crimes. With a trippy, psychological horror vibe and impressive voice acting from Rutger Hauer, this game will keep you up at night.
These scary games are not for the faint of heart, but if you’re a fan of horror, they are a great way to get into the Halloween spirit. Just be sure to play with the lights on!
Emergency Savings: Protecting Your Scary Savings
One thing scarier than your Halloween decorations is an unexpected emergency expense, such as a medical bill or car repair. Emergency savings are important to keep you from freaking out about unexpected costs.
How Much Should You Save
First, calculate how much you need to save. Financial experts recommend saving at least three months of living expenses in case of emergencies. Don’t worry if you can’t save that much at once; start by saving small amounts and gradually increase it.
Where to Keep Your Emergency Savings
Keep your emergency savings separate from your regular savings and checking accounts. It’s tempting to dip into your savings for non-emergencies, so consider opening a separate account with a different bank or credit union.
How to Save for Emergency Savings
Saving for emergencies doesn’t have to be boring. Get creative and make it fun! You can throw a “no-spend” week each month, where you don’t spend money on anything except necessities. Find ways to reduce your expenses, such as cutting down on eating out or canceling subscription services you don’t use. Put any money you save towards your emergency fund.
Recap
Remember, emergency savings are an essential part of protecting your scary savings. Aim to save at least three months of living expenses, keep it separate from your other accounts, and get creative with saving. With a little planning, you’ll have the peace of mind knowing that you’re prepared for any unexpected expenses.
Americans’ Savings
When it comes to saving money, Americans often struggle to do so. According to a recent study, more than 60% of Americans have less than $1,000 in savings, and only 39% of Americans have enough savings to cover a $1,000 emergency expense without having to borrow money.
Why Americans Struggle to Save
There are several reasons why Americans struggle to save money. One of the most common reasons is debt. Americans have an average credit card debt of $6,194, and that doesn’t include any other types of debt they may have, such as student loans or car loans.
Another reason Americans struggle to save is the high cost of living. The cost of rent, healthcare, and groceries has increased significantly over the years, making it difficult to save money.
The Scary Reality of Not Saving
Not having enough savings can lead to financial stress, which can affect a person’s mental and physical health. It can also lead to having to make difficult financial decisions, such as taking out a loan or getting a second job.
Furthermore, not having enough savings can set a person back when it comes to achieving their financial goals, such as buying a home or retiring comfortably.
Tips for Saving Money
Saving money may seem daunting, but there are several things Americans can do to start saving today. One tip is to create a budget and stick to it. By tracking their expenses and cutting back on unnecessary purchases, Americans can start saving money immediately.
Another tip is to take advantage of saving programs, such as employer-sponsored retirement plans or automatic savings plans that transfer money into a savings account every time a paycheck is deposited.
In conclusion, Americans must take their savings seriously to achieve financial stability and avoid financial stress. By taking small steps and making informed financial decisions, Americans can build up their savings and achieve their financial goals.
Scary Savings Account: A Cost-Effective Way to Beat Your Fears
Do you fear the unknown, suffer from anxiety, or just hate uncertainty? Well, a scary savings account might be just what you need to put your mind at ease. Forget about investing in the stock market, trying to start a business, or even saving for a downpayment on a house. Those things are too risky, and you don’t want to risk losing everything. With a scary savings account, you can save up for a rainy day while also having some peace of mind.
What is a Scary Savings Account
A scary savings account is just like any other savings account, but with a twist. Instead of setting aside money for something specific, like a vacation, car, or home, you’re saving for something that scares you. It could be losing your job, getting into a car accident, or having a medical emergency. By having this money set aside, you can feel more secure knowing that if something scary does happen, you’ll be able to handle it.
How to Open a Scary Savings Account
Opening a scary savings account is easy. You can go to your local bank, credit union, or even an online bank to open an account. Make sure to do your research and find an account with a high-interest rate and low fees. Once you have your account set up, decide on a goal for how much you want to save in your scary savings account. It’s recommended to save at least three to six months of living expenses.
Tips for Maintaining Your Scary Savings Account
Now that you have your scary savings account set up, it’s essential to keep it maintained. Here are some tips for keeping your account healthy:
- Set up automatic transfers from your checking account to your scary savings account. This ensures that you’re always saving and not tempted to spend the money somewhere else.
- Don’t touch your scary savings account unless it’s an emergency. The whole point of this account is to have money set aside for something scary, so don’t spend it on something frivolous.
- Review your account regularly. Make sure you’re on track to meet your savings goal and adjust your savings rate if necessary.
- Celebrate milestones. Every time you reach a savings milestone, treat yourself to something small, like a cup of coffee or a night out with friends.
A scary savings account might not be the most exciting way to save money, but it’s an effective way to beat your fears. Start small, set a goal, and watch your savings grow. By having a scary savings account, you’ll be able to handle whatever life throws your way. So go ahead, face your fears, and start saving today!
Scary Savings Accounts
Are you tired of your savings account paying you next to nothing in interest? Do you want to make your money work for you, but the thought of investing makes you break out in hives? Look no further than scary savings accounts!
What are Scary Savings Accounts
Scary savings accounts are high-yield savings accounts that offer a spooktacular interest rate. They are called “scary” because the interest rates are almost too good to be true. But don’t be afraid to give them a try! These accounts are typically offered by online banks and don’t require any minimum deposit or balance.
Why Should I Open a Scary Savings Account
First off, who doesn’t want to earn more money? With a scary savings account, you can earn interest at a rate that is much higher than your traditional brick-and-mortar bank. Plus, because these accounts are typically offered by online banks, they are more convenient to manage. You can access your account from anywhere, at any time.
What Are the Risks of Scary Savings Accounts
When it comes to savings accounts, the only real risk is that the bank might go out of business. However, as long as you choose an FDIC-insured bank, your deposits are insured up to $250,000 per account. So, if the bank were to fail, you wouldn’t lose your money.
How Do I Choose a Scary Savings Account
When choosing a scary savings account, there are a few things you should consider:
- Interest rate: Look for an account with a competitive interest rate.
- Fees: Choose an account with little to no fees.
- FDIC-insured: Make sure the bank is FDIC-insured to protect your deposits.
- Convenience: Choose an account that is easy to manage and access.
If you want to earn more money from your savings account, consider giving scary savings accounts a try. With a higher interest rate and easy accessibility, you might be pleasantly surprised at how much your money can grow. Just make sure to do your research and choose an account with a competitive interest rate, minimal fees, and FDIC-insurance. Happy saving!
How Many Households are Caught in the Savings Dilemma
Are you one of the vast numbers of people who can’t save money? You’re not alone. Many households have zero to little savings, no matter how hard they try. So, don’t be too hard on yourself if you find yourself in the same boat.
The Stats Speak for Themselves
According to the most recent statistics, about 28% of households in the US have no emergency savings fund. What’s even scarier is the fact that 66% of households don’t even have enough savings to see through three months of expenses. Now, let that sink in.
The All-Too-Familiar Story
Let’s say that you’re a typical American worker who earns about $60,000 yearly, so that conveniently means $5,000 every month. The national average rent in September 2021 was around $1,500, which equates to 30% of your monthly income. We’ve not even factored in costs like utilities, groceries, and transportation yet.
By the time you’ve subtracted these expenses, it’s unlikely you have much money left to put aside towards your savings account, if at all. It might even feel like a luxury to have anything left over after your bills are paid.
Where Do You Start
The truth is that it’s not easy to start saving especially if you’re living from paycheck to paycheck. The first step should involve budgeting and taking note of every penny spent. You can also automate your savings plan with the assistance of a financial advisor to ensure that a portion of your paycheck is automatically deposited into your savings account.
Another useful tip would be to spend less or reduce credit card debt to have more money available for saving. There are numerous ways to save money that cost nothing, including purchasing generic brands or avoiding bank fees.
So don’t be too discouraged, there’s always a chance to improve your financial health.
