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[–] 7 points 7 months ago (3 children)

That's becoming my take, too. What surveys mean to ask is liquid assets, money people have immediate access to. But most Americans are too uneducated to understand what that means, so they ask about cash. But many people probably think that's a question about how much paper money they have.

Basically, they ask a question in a dumb way to get around how dumb Americans are, but the result is a dumb statistic.

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  • [–] 7 points 7 months ago (1 child)

    That's not at all what they asked.

    We defined cash savings as checking accounts that people consider savings, savings accounts, money market accounts, brokerage/investment accounts (nonretirement), certificates of deposit (CDs) and cash at home.

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