Saving in America.
Some of us do it diligently and some of us…think about doing it. To be honest, I tend to fall into the later camp sometimes.
According to ycharts.com and the Bureau of Economic Analysis in a report published February 2016, the United States personal savings rate was 5.40% and in 2015, the rate was the same. Long Term Average for Savings in the United States is 8.33% according to the same report.
The process of savings is that it generally comes across static and cold, at least to me. When looking up rules of savings, the typical advice says “save 10%” or “save x amount of dollars per pay period” with no regard to the day to day swings of Life. So it would be nice to have a method of savings that automates savings based on my current account balance and previous spending habits…