Americans Finally Feel Good About Saving -- Even Though They're Pretty Bad at It
Though it's natural to stress about money, in a survey last year, 85% of U.S. adults were found to be suffering from full-fledged financial anxiety, and a big reason boiled down to a general lack of savings. It's therefore somewhat encouraging to hear that for the first time in six years, Americans are finally feeling better about much they're saving. That's the latest from a Bankrate study released earlier this year.
But let's not celebrate just yet, because while U.S. adults do seem more content with their level of savings, they don't actually seem to be saving more. Though working Americans are generally advised to set aside a minimum of 10%, and, more ideally, 15% to 20%, of their earnings, almost half of Americans are currently saving just 5% of their income or less, while 19% are saving nothing at all. And while those folks might finally feel better about their finances, in reality, they shouldn't get too comfortable.
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Source: Fool.com
