Personal Finance 101: How to Budget the “SMART” Way

No two ways about it, America's saving habits stink.

 According to data from the St. Louis Federal Reserve, the U.S. personal savings rate as of Sept. 2016 was just 5.7%. That’s down nearly 50% from where we were 50 years ago, and it’s a far cry from what the citizens of other developed countries are socking away.
It’s not hard to understand why America’s saving habits are so poor. Aside from the fact that consumption comprises around 70% of our GDP, and thus consumers tend to be freewheeling with their disposable income, a bigger factor could be that just a third of American households is keeping a detailed monthly budget, at least according to Gallup.
Gallup’s findings in 2013 showed that it really didn’t matter all too much how much money you made, what political ideology you believed in, or how educated you were — America gets a big fat “F” when it comes to budgeting.

Read the Full Article at >>>>

It's only fair to share...Share on FacebookShare on Google+Tweet about this on TwitterShare on LinkedInShare on RedditShare on TumblrEmail this to someone

Related Posts:

All content herein is owned by author exclusively. Expressed opinions are not necessarily the views of VT Money, VT Money, authors, affiliates, advertisers, sponsors, partners, technicians or Veterans Today Network and its assigns. In addition, all images within this post are the full responsibility of the author and NOT Veterans Today Network.
Legal Notice - Comment Policy

Arnaldo Rodgers Posted by on 8:56 am, With 0 Reads, Filed under Personal Finance. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Comments Closed

You must be logged in to post a comment Login

From Veterans Today Network