Why Are YOU Saving So Little?
Contrary to what the media portrays, most Americans [does that include YOU?] are horrible savers. In fact, only 40% of Americans have enough in their savings accounts to pay for an unexpected expense [does that include YOU?] so it should also come as no surprise that half this country is not adequately preparing for retirement [does that include YOU?] and will be depend on Social Security as their main, and for many only, source of income in old age [does that include YOU?]. Why do YOU save so little?
Most people [does that include YOU?] realize that putting away a few months of expenses is good financial hygiene so the question then centers on the lack of people saving money. There are two main reasons:
1. living beyond your means [does that include YOU?] and
2. simply having more expenses than income [does that include YOU?].
Given the contraction of the middle class and inflation, many Americans [does that include YOU?] are simply feeling the pinch of inflation combined with low wages.
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