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

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Tip of the Day

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

    America saves, do you? Plan for your financial future with a #mySocialSecuity account: http://ow.ly/lqBE30gDgzn #ASW18

Saver Stories View all »

Coping with a Lost Job

Written by Katie Bryan | October 28, 2013

Aimee Shaffer worked as a Public Service News Director for radio for years until one day her employer downsized the company, resulting in hundreds of lost jobs, including Aimee’s.

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Transforming “I Can’t Save” to “I Will Save”

Written by Guest Blogger | January 13, 2016

You will not believe what it took to completely change my life. About three years ago, the HR Administrator of the corporation where I worked (as a temp with no benefits) forwarded an email to me. Fifteen seconds. One small act of kindness. That's it - that's all it took!

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Developing a Savings "Game Plan"

Written by Katie Bryan | October 28, 2013

Eunice Diaz, a teacher in Colorado Springs, had been noticing a pattern. Despite the fact that she and her husband were “making good money,” they were spending their entire earnings and “were still struggling at the end of the month.”

Read more...

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