Alan C. Posted October 7, 2015 Posted October 7, 2015 Most Americans have less than $1,000 in savings Approximately 62% of Americans have less than $1,000 in their savings accounts and 21% don’t even have a savings account, according to a new survey of more than 5,000 adults conducted this month by Google Consumer Survey for personal finance website GOBankingRates.com.Some age groups are less likely to have savings than others. Some 31% of Generation X — who are roughly aged 35 to 54 for the purpose of this survey — while being older and presumably more experienced with money than their younger cohorts, actually report a savings account balance of zero, which is the highest percentage of all age groups. Around 29% of millennials — aged 18 to 34 — and 28% of baby boomers — aged 55 to 64 — said they have no money in their savings account. Baby boomers (17%) and seniors aged 65 and up (20%) have the most money saved of any age group while less than 10% of millennials and approximately 16% of Generation X have $10,000 or more saved.
Romulox Posted October 7, 2015 Posted October 7, 2015 I can't imagine why people aren't anxious to cash in on that 0.1% APY being offered for saving accounts today. Personally, I'll stick to the account in my mattress. Its open 24/7 and has much less exposure to criminals.
McBeer Posted October 8, 2015 Posted October 8, 2015 It would be much easier to save money if I wasn't being robbed every week.
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