Americans Can Learn How to Save

America Saves and the American Savings Education Council discussed possible opportunities to save money in the current economic climate. The group has been taking surveys of America’s savings habits and progress. In the past year the unemployment rate has increased by 60%, and even with this fact the survey found that savings habit have not changed as much as one might think. America Saves found that “3/4 of the American public say that they spend less than their income and save the difference, while 7/10 have sufficient savings for unexpected spending, and 3/5 have a saving plans with goals, and 1/2 have spending plan that allows them to meet their savings goal.” In the latest polls, however, there have been some “indications of recession.” For example, the “proportion of home owners that have paid down or paid off their mortgage debt has gone down 5%.”

America Saves aims to “take action to bud wealth not debt.” The group offers tactics and ideas for savings on their website www.americasavesweek.org. Dallas Salisbury, the Chairman of the American Savings Education Council said that the ultimate goal is for American people to have “financial choice and financial freedom.”