Alright everyone, I have a quick one for you today. As most of you know, I love infographics. I can’t get enough of visuals because it helps me understand a concept better. That being said, the following visual is tragic. I actually used to be in this statistic class and I am happy to say that I am no longer.
Why I Save
As you can see from the graphic below, we, as Americans, are doing a horrible job at saving our money. How can we think this is OK? As I got out of debt, I would have been embarrassed to have that little in my savings account. As a new parent, I am happy that I have some cash reserves to makes sure I can support my family. This give me great comfort and that is why I save. If you are struggling to pay off debt and save, then why not check out my debt payoff/savings allocation method. It worked well for me and I hope you can do it.
So, check out the below infographic and tell me how you feel about our savings dilemma. These numbers scared me a little.