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

 

 

Tip of the Day

  • Written by Guest Blogger | March 7, 2014

    Make sure your financial advisor’s title is accredited, and that he/she is qualified through a training program that holds its members to strict ethical standards.

Saver Stories View all »

How Smart Financial Decisions Can Create Opportunities 

Written by | November 22, 2019

Written by Stephen Ross, America Saves Program Coordinator | November 22, 2019

Of the many stories Military Saves shares, most describe how someone was in dire straits financially and worked their way out of it with the help of Military Saves. This time we want to highlight a different kind of story. This is a story about how responsible financial decisions can build on one another to create opportunities you thought only the super-rich enjoy.

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Setting a Goal Leads to Success

Written by Super User | May 24, 2019

Growing up, Marisa’s dad had always talked about saving first, but she said she didn’t really internalize it until much later. “I was drifting along with no plan, carrying a little bit of revolving debt, saving some money here and there, but without a real plan for it.”

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Involving Kids in Family Finances

Written by | April 19, 2019

 

One of the best lessons we can share with our kids is about money. By middle school, kids should have a good understanding of how money works as well as the importance of saving.

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