Saving Not Only Impacts Individuals But Has Economic Benefits

A new report released by Oxford Economics last week revealed that a boost in savings would make the US less dependent on foreign capital, make households more secure, and strengthen long-term economic growth.

According to the report, the household saving rate, currently at 3.8%, would need to increase by one to five percentage points in order to create this change. In actual dollars that means each person would need to increase their savings by $3,500. While that may seem like a daunting task, it is possible for individuals of all income to save money and build wealth. Take a look at the infographic below for more and make a savings commitment by Pledging to Save

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Savers who make a plan are twice as likely to save successfully. 

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Tip of the Day

  • Written by Katie Bryan | November 25, 2013

    Tip to #save when shopping: You can #save more than 10% by comparing prices at different stores.

Saver Tips and Stories View all »

Don’t Laugh at Saving Spare Change

Written by Guest Blogger | May 7, 2019

Virginia Saves saver, Brittany, decided to start saving again when she became a single mother. She thinks many women, and men, can relate.

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Story of an Urban Professional

Written by Lindsay Ferguson | June 26, 2019

Elaine was inspired to create a new savings goal and plan with the America Saves Pledge after reading the “The Color of Money” column in The Washington Post by Michelle Singletary.

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Starting and Continuing a Personal Finance Journey

Written by Sara Cooper | December 23, 2013

When Kiara Hardin, now a junior at Western Illinois University, became an intern with the Chicago Summer Business Institute during her sophomore year of high school, she began her personal finance journey. The program required participants to open a savings account.

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