America Saves: Retirement, emergencies, debt are savers' goals
April 3, 2015
WASHINGTON (4/6/15)--Already committed to making a difference in their savings habits, respondents to the America Saves Saver Survey are aiming to build emergency funds, secure their retirement and slash debt.
The survey captured the sentiment of consumers who had signed up for the America Saves program between January 2011 and April 2014.
Those who joined the program in 2011 reported saving $7,000 since then. The engaged savers try to put away $200 per month, with the exception of those who are paying down debt at about $500 per month.
Female respondents are funneling more toward emergency funds, while male respondents are focused on building retirement wealth.
In addition to bolstering their savings, savers reported that they are more confident about their ability to manage their money, are actually managing their money better, are managing their debt better and feel more hopeful about their financial situation.
Their tips for success include saving automatically, saving into different accounts, getting innovative with their living situations and being creative.
America Saves Week is the last week of February and encourages people to pledge to change their savings habits.