It’s curiously enough but Americans indeed wish to economize and free up some more cash. The extraordinary majority (80%) admit that they do save some money, but they would like to save more due to the costs of everyday means of subsistence. 56% that is more than half confess that they economize the maximum of their income as they aren’t sure of the future.
But anxiety is not a sufficient reason for everybody to save, and as a matter of fact some people have their own opinion about saving. Two out of ten Americans believe they don’t need to save much as they work their fingers to the bone to spare on something they truly need. 14% say they don’t actually care about economizing. Nevertheless, 30% of people spend all the money and do not save a penny of their income from year to year.
President and CEO of Cambridge Credit Counseling Corp. Christopher Viale admits he can agree that costs of everyday life may prevent 80% of Americans from saving. “In this case of increasing prices of fossil fuel together with 6% raising of food prices people are really starting to feel lack of cash,” he says.
“On top of everything, there are much more things making an encroachment on our money that there were some 30 years ago: cellular phones, the Internet, movie and music downloads – our parents and grandparents never had to resist all these expenses.”