America Saves Blog
Tips, advice, and the latest news from the savings world.
America Saves is launching the first in a series of four conversations with economists Aaron Klein, fellow in economic studies and policy director of the Initiative on Business and Public Policy at the Brookings Institution, and Mark Calabria, director of financial regulation studies at the Cato Institute, on large economic questions and how they impact the financial well-being of individual households. In the first video of the series, which we're calling America Saves Conversation with the Economists, we asked about the role of holiday spending in the nation’s economy.
By FINRA Investor Education Foundation Staff
Managing debt is a major concern of many Americans. Nearly four out of five Americans carry at least one of the following types of debt measured by the FINRA Foundation’s 2015 National Financial Capability Study (NFCS): mortgage or home equity loan; credit card balance; auto loan; student loan’ non-bank borrowing; or unpaid medical bills. And 40 percent of Americans reported thinking they “have too much debt right now.”
The interest, effort, and effectiveness of Americans to save money declined in the last year, according to new research from America Saves. And while savings effort and effectiveness are at a three-year low across the board, the declines were most concentrated among low- and moderate-income Americans.
It's the season of giving! If last year is any indication, you can expect to spend a budget busting $800 or more on gifts. And then there’s the plane ticket back home, party dresses, tinsel, wrapping paper, the holiday roast, and so much more.