In a Bankrate survey, half of Americans are saving 5% or less of their income, with only a quarter saving 10% or more.
That’s far below the recommended 15% savings that Bankrate recommends — only about 1 in 7 Americans are saving that much.
The middle class appears to be doing the most saving, with 35% of income earners of $50,000 to $74,999 annually saving more than 10%. Those in the $75,000+ annual wage bracket are a close second, with 32% saving 10% or more of their income.
Read more about Bankrate’s findings in CNN’s article here: “Half of Americans are saving next to nothing”.
Do you need more Money Monday tips, so that you’re saving more of your money? View all of my posts on money here. Some related Money Monday topics: Common money mistakes, Frugal living rules, and Prioritize bills when you’re low on cash.
Contact me today for real estate assistance! (619) 890-3648 | Email me
Latest posts by John A Silva (see all)
- San Diego County Events for April 20 – 22 - April 20, 2018
- Day After – Money Monday: Do this after filing your 2017 tax return - April 17, 2018
- San Diego County Events for April 13 – 15 - April 13, 2018