1 in 6 Americans Live in Poverty

September 14, 2011

By Katie Bryan, America Saves Communications Manager

Change

The U.S. Census Bureau announced yesterday that in 2010, median household income declined and the poverty rate increased.

Specifically, the poverty rate increased from 14.3 percent in 2009 to 15.1 percent in 2010. That means 49.9 million live in poverty in the United States. In addition, the Bureau found that real median household income declined 6.4%.

This means that budgets are getting tighter across the nation. These numbers exemplify the importance of having an emergency savings. Having an emergency savings fund may be the most important difference between those who manage to stay afloat and those who are sinking financially. That’s because maintaining emergency savings of $500 to $1,000 allows you to easily meet unexpected financial challenges like repairing your car, paying for a visit to the doctor, or flying to visit a sick parent.

Don’t get caught unprepared. Click here for tips on how you can save money for your emergency savings and here to learn about the differently financial products available to help you save.

Are you financially prepared for a sudden emergency? Let us know on our Facebook page.

Take the Pledge

I pledge to save money, reduce debt, and build wealth over time. I will encourage my family and friends to do the same

Take the America Saves Pledge

Tip of the Day

  • Written by Tammy G. Bruzon | February 2, 2018

    It’s America Saves Week! Are you a successful saver? Check out the @AmericaSaves Saver Checklist Tool see how you’re doing: http://bit.ly/2gBUlAs #ASW18

Saver Stories View all »

Saving Early: Key to Successful Future

Written by Katie Bryan | October 28, 2013

For Johnnie Lovett, a Young Illinois Saver, saving has been a habit since he was a teenager. “As a teenager, I was responsible for buying certain things with my allowance,”

Read more...

Getting Out of Debt

Written by Katie Bryan | October 28, 2013

In 2004, Tonya Shelton was facing financial ruin. Barely making more than minimum wage and having lost her home to an unexpected family crisis, Shelton and her family were forced to live in a rundown hotel.

Read more...

Inspired to Build Savings By Starting Small

Written by Great Lakes Michigan Saves | April 19, 2016

With little-to-no money in the bank and living on a limited income with her adult daughter, Sharon wasn’t sure if building up savings for her future was even possible. “At my age, to put debts behind me would be a relief,” she said, but she wasn’t quite sure how to even get started with a savings plan. That all changed when Sharon attended the Great Lakes Michigan Saves Pay Yourself First Saver’s Summit during America Saves Week.

Read more...

Receive Updates

Sign up for Texts

Written by Tammy G. Bruzon | July 15, 2014

Sign Up

Sign up for Emails

Written by Super User | September 16, 2013

Get Emails

Take the Pledge

Written by Super User | September 16, 2013

Start Saving