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Oct 16, 2017

Question of the Day: Do More Americans Prefer Spending or Saving?

Here's what Gallup found (and I was surprised by the results): 59% prefer to save money!

Questions:

  • Which do you prefer? 
  • Why do you think more people prefer saving to spending? 
  • Why does America have such a low savings rate despite the fact a majority of people prefer saving over spending?

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Interested in more savings activities? Check out this page on the NGPF website! 

 

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About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

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