|No Surprise, Americans Get an 'F' for Saving Money|
|by Tom McGregor||Mon, Nov 17, 2014, 12:09 AM|
Are Americans the world's worst savers? A recent study disclosed that one out of four Americans have less than $250 in their bank account.
According to NewsMax, "Two out of five Americans are living on the edge of financial disaster, a study says. More than 40 percent of Americans live paycheck to paycheck, according to , which cites a study from consumer finance company Springleaf Financial, based in Evansville, Illinois."
David Hogan, executive vice president of marketing and analytics at Springleaf, is quoted as saying that, “With rising costs and unexpected expenses, consumers may have a tough time making ends meet.”
As reported by NewsMax, "The study found that 24 percent of consumers have less than $250 in the bank accounts and no reserves to handle unexpected costs. The paucity of savings can be found at all income levels. Among people who make more than $200,000 a year, one in five say they rarely save."
Americans are so awful at saving money that even U.S. citizens earning over $200,000 per year stand on the brink of bankruptcy if they lose their jobs.
To read the entire article from NewsMax, link here: