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Do you save enough?

by Shira Boss  |  1674 views  |  1 comment  |        Rate this now! 

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We all know we should be saving money. For college, for retirement, for the rainy day. But how disciplined are you about saving every month?

According to this article 7 out of 10 Americans live paycheck to paycheck. In 1985 Americans saved 11% of their income, now the number is close to zero. The author mentions an interesting point: People who are making tons of money are not necessarily saving a greater percentage of their income than people who make less.

The author talks about setting up a savings tin with her husband - they put their loose change in it and have saved $2600+ in five years. Do you have any savings tips or tricks? Please share with the rest of us!

1 comment so far...

  • $2600 in FIVE YEARS? Tell me they have other savings besides that. That's a whopping $520/year, or ten bucks a week. I saved that much when I was a single mother of three, the year I made $22,000. In ONE year. ONE of me, ONE small income, and THREE kids.

    $2600 saved in five years between two incomes? That's pretty sad, frankly.

    Flag as inappropriate Posted by MaryP on 25th October 2007