Friday, March 21, 2008

Debtors Are Better Savers: Surprising Survey

Americans really want to save more money. The overwhelming majority (80 percent) say they do save money, but not as much as they would like because of the expenses of daily living. More than half (56 percent) say they save as much as possible because they're worried about tomorrow.

More from Bankrate.com

• Tackling Debt as a Family

• When One Spouse Files for Bankruptcy

• Are You Spending Smart?

But fear doesn't motivate everyone to save, and in fact a rather casual attitude about saving prevails among some people. Two out of 10 Americans say they don't save much because they work too hard to scrimp on the things they really enjoy. And 14 percent say they don't really worry about saving. However, this number doubles to 30 percent among people who live by their words and actually don't save a portion of their salary each year.

Bankrate commissioned GfK Roper to conduct a random survey of Americans' attitudes about savings and debt as part of our Financial Literacy series. See our poll analysis on debt-related questions, released in February.


Original Article

I didn't realize that nondebtors aren't saving as much portion of their income
than debtors. I thought that millionaires without debt would be easier to save
their income, but this article that I've posted tells me it's not. It's said
debtors more aware of their budgets because they have all the monthly payments.
I bet it's so important for us to have such a habit, saving.

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