I seriously have encountered this many times before and to my personal experience and memory data collection, the average person keeps about $1,500 in their checking account.Obviously, I am no expert nor have collected enough information to make a determination that most Americans live paycheck to paycheck, but I would definitely say that is the case based on the receipts left behind. I use the ATM about every other day and people leave their receipts behind much more often than I would imagine. I personally have all my receipts emailed or saved to my online banking inbox. In your experience, would $1,500 sound about right on your account worth average? What about people you know, whether or not they own nice cars and homes, have you seen the monthly revolving cash in their checking accounts?
Saving accounts are for fools.
If money that has been given to me as a gift or hard earned money that I worked so hard for is simply lying around, it makes me anxious. I don’t even like having a coin stash; I am one of those people that go to the bank and ask for the roll papers so I can roll my lose change and turn them into dollars by depositing them into my bank account. Now, why do I think saving accounts are for fools? Well, money that is not making money while there sitting idle is a foolish act. It becomes a bigger problem when you have debt. All debts come with interest and if you have money in a savings account and you are not making interest on that money but instead paying high interest rates for whatever debt you may have, you are the biggest fool. I use to have a lot of debt, until I forced myself to pay it all off and then when I have extra money on the side, I invest it into crypto and it has made me more money than if I was in debt or I had that money just sitting there in my savings account.
While on the subject of money, lets talk about taxes. So I know that there is ways to stay anonymous and not pay taxes on crypto that is owned and traded. I have yet to find those ways, yet again I have not been looking so I pay taxes on all my taxable income. Paying taxes sucks but as an American I have to and have no other choice, or do I?Bitcoin is taxed as property so you must claim your sell of your property to the IRS, how many of you are concerned about how the IRS taxes our crypto?