Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
America Saves: Consumers show more effort, more interest in saving
WASHINGTON (7/1/14)--In the most recent Personal Savings Index from America Saves, consumers reported being more interested in saving and putting greater effort into doing so, resulting in more effective savings habits.
 
May's scores ticked back up to September levels after slumping in January. "The low savings interest, effort and effectiveness in January is probably related to holiday spending that served as a distraction and also made it difficult for many to save," said Stephen Brobeck, executive director, Consumer Federation of America.
 
The survey, taken every four months, measures consumers' interest in saving, the effort they make to save and how effective they are in meeting those goals.
 
"However, in each of the three periods, there was a consistent and predictable relationship between interest, effort and effectiveness.  Not all those with interest in saving make the effort, and not all those who make the effort are successful," Brobeck added.
 
As in the two earlier surveys, the savings gap was significant among income groups: those with less than $25,000 income annually were only 60% interested in saving, compared with 80% of those in the $100,000-plus income range. The difference continued in saving effort, 50% vs. 77%, and saving effectiveness, 43% vs. 74%.
 
"The lower one's income, the harder it is to save, and this difficulty appears to depress saving effort and even saving interest," Brobeck noted.
Other Resources

America Saves
RSS





print
News Now LiveWire
Through the snow, be on the lookout for a @CU4Kids @CMNHospitals @COOPFS billboard in @TimesSquareNYC this week
7 hours ago
.@CUNA , trades unite to urge Congress on #datasecurity action http://t.co/gzmZGX9nfF
10 hours ago
State of Wash. @dficonsumers has expanded its CAMEL ratings to include an "S" for interest-rate sensitivity.
10 hours ago
.@HUDgov tweets: Be sure to tune in tonight to watch @SecretaryCastro on @TheDailyShow with Jon Stewart http://t.co/B1L23NQaoJ
10 hours ago
.@NJCUL Southern Chapter meeting canceled due to the impending snowstorm
11 hours ago