It was reported below that over 65% of Americans are saving little to nothing. Here is what they had to say, followed by our experiences. Among respondents, 20 percent said they aren’t saving anything or don’t have an income. Another 47 percent are saving 1 to 10 percent, and 27 percent are saving 11 percent of their income or more. Expenses are the biggest obstacle, with 39 percent of the respondents citing this as the main reason they’re not saving. Sixteen percent said their job isn’t good enough, while an equal amount said the main reason they aren’t saving more […]

This is an example of consumer savings and debt which comes up often. When faced with an emergency, most people can’t come up with $1000 in cash. They have to rely on credit. Here’s an excerpt from a recent article on this common problem: More than one-third of households, 34 percent, endured a major unexpected expense over the past year, according to Bankrate’s latest Financial Security Index survey, with only 39 percent saying they would cover a $1,000 blow with savings. When calamity did strike, the average expense was more likely than not to cost at least $2,500, illuminating the […]