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Survey: Americans keen to save more

By America Saves staff writer

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New research shows there is greater interest among Americans in personal savings.

America Saves discloses this finding in its new Personal Savings Index. The PSI is based on a survey of more than 1,000 representative adult Americans, which asked them questions about “personal saving related to goals ranging from an emergency fund to retirement.” 

The survey shows that there is greater interest in personal saving, with an aggregate average score of 71 percent, than in saving effort made, at 62 percent. Both scores exceed the score for perceived effectiveness of saving at 58 percent.

“Our new savings index measures the perceptions of savers, not the actual reality of savings,” said Stephen Brobeck, Executive Director of the Consumer Federation of America and a founder of America Saves, which is managed by CFA. “However, these personal perceptions strongly influence saving realities as well as satisfaction with these realities,” he added.

America Saves is also making available a new savings tool to allow Americans to quickly assess their savings effectiveness.  Available here, the Saver Checklist contains 15 “savings accomplishments” that range from successful debt management to saving for emergencies and retirement to saving automatically and building home equity. 

Read the full article here.