CNNMoney.com struck a nerve with readers Monday. A story about savings - or lack thereof - reported that 28% of Americans have no emergency savings. So we had to ask: Where's the money?
Commenters had lots of opinions on how people spend their money and why they aren't saving.
jacalder: No money to save but somehow there's always money for beer, cigs and cell phones. It's called priorities. Too many Americans refuse to grow up.jaxbeach904: Not a cent saved, yet still have cell phones, big screen tvs, internet,
afford cigarettes and alcohol, designer clothes and shoes. Yeah, I cant
understand why they dont have any money saved!Bojak: The biggest barrier to saving is having nothing to save.
The CNN Facebook community chimed in talk about just where all their money is going. Here's a sampling of what people have said.
Home and family
Katie Fitch I am a single parent of 3 kids and get no child support, after bills, sports, braces and kids and so on what savings hahaha yeah right lol
Ron Swanson i dont feel sorry for them we raise 2 kids one autistic. I also pay my child support. We live on one income. We do just fine if we can do it anyone can. Its a matter of stop whining and just do it.
Melissa Ante I have a savings with cash in it, only a couple hundred though cause cost of living happens, can't stop it. We encourage young adults to learn responsibility, get a job and take care if themselves, but how can they when minimum wage is chump change! I have a beautiful home, average little car, bills paid, just a few dollars of extra cash to use for family outings ( taking the kids out to a movie & ice cream) but I still worry like crazy about our financial status, especially when its time to pay bills.
Estas Cabron It's all going to taxes!
Miguel Figueroa Ha ha savings ! What a f... Joke . Come and live in Massachusetts , they tax u for everything ! Even to breathe.
Maina Santiago Save what money: between all the taxes the government takes out of my pay, the taxes I pay on EVERYTHING I buy, and the house taxes "I should save what for six months!!!" Please!
Norma Senecal Machado Are you kidding me? I'm lucky to have 6 weeks set aside for emergencies! This economic situation is killing me
Nicole Highsmith Derricott My husband was laid off 2yrs ago it has been hard, we are making a way also or should I say God always make a way for us, but it could be better/he was laid off from a job he worked at for 14yrs and they lied and said oh he still has a job to cheat him out of unemployment/we don't complain we go with the flow but I do sympathize with Eric and Mary Jo just my opinion, have a great day Ron :]
Rhonda Burns Having a rainy day fund seems to be on everyone's wish list. With the economy being what it is as of recent it has become even more difficult to create anything close to a savings plan. I try to keep a running ledger of everything I spend and when possible use only the cash on hand so I can leave a reasonable amount in my savings account. I can recall being back in 1993-1994 and having not only a retirement 401-k account with a nice nest egg tucked away but also a nice checking, savings, education and vacation accounts in place.
Bruce Myers NO kidding, were all broke as a joke....no jobs, all going overseas and we just keep giving what little money we have to huge companies like walmart, who have no sense of patriotism....they all fund other countries economies in the third world and take all our money. And were stuck in this cycle....cant afford to buy american and cant afford not too for much longer.
AmCorbett Corbett only 28%? I personally do not know but anyoe except for two people that have emergency savings and I know way more than 100 people and I am pretty sure the percentage of people I know that have no emergency savings isprobably closer to 95%
Mike Bowman 28% seems like a low number ......
Living the good life
Los Carnales Surf House 39 single and no kids=always extra $$$ yayyyyy!
Trecee Johnstone It's not a rule of thumb. We don't have an emergency fund but we also make over 6k a month what Evers there is there. Money is meant to be spent. You can spend it foolishly or spend it wisely. We do both
Some comments edited for length or clarity.
Compiled by the CNN.com moderation staff. Some comments edited for length or clarity.