Americans aren't saving money like they should - Fox 28: South Bend, Elkhart IN News, Weather, Sports

Americans aren't saving money like they should

Posted:
We're a country of spenders.  Not savers.   

At least that's how BankRate.com sees us.

It's just released a report saying nearly 30% of Americans have no emergency savings.  And that 67% admit they've saved less than the expert recommended six months worth of rainy day expenses.

BankRate. com says the issue isn't just found in one age group.

The bright spot of the report is that Americans 18 to 30-years-old are the ones most likely to have money set aside for emergencies.  BankRate.com says part of the reason for this is because their expenses are low because they live at home, have roommates, or are still students.

BankRate.com do com says you should stash away up to five months of expenses in case there's an emergency.




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