7 Simple Facts About Saving Money

How much do you know about saving for a rainy day? Here are seven facts you need to know from AmericaSavesWeek.org

How much do you know about saving for a rainy day? Here are seven facts from AmericaSavesWeek.org about saving money.

  1. The U.S. Treasury says that Americans hold about $15 billion in loose change.
  2. The typical amount Americans spent last year on unexpected expenditures was $2,000. Surprisingly, lower-income households cited the same amount.
  3. Two-thirds of unexpected expenditures are related to medical care or motor vehicles.
  4. If family incomes are the same, families with a plan save about twice as much as those who do not have one.
  5. The only free money for savings that is available to many Americans is an employer’s match to a contributory workplace retirement plan such as a 401(k).
  6. In 2006, 25% of individuals age 65 and older relied 100% on Social Security payments for their income.
  7. The easiest way to save money is to have a set amount automatically deposited into your bank account each pay period.

Source: AmericaSavesWeek.org

ACROSS THE WEB
  • patricia miriam

    that’s educative. my question is, how do you know what stock to invest in during this biting financial crisis? and what do you consider when choosing an investment portfolio?

  • INHENSIKO ISAAC

    What is the importance of saving with a Savings and Credit Cooperative society?