
Search:			Index >> About Us >> Security & Privacy >> Terms of Use >> Add Url >> Add Article



Games & Play

Property & Estate

Relationship & Lifestyle

Recreation & Entertainment

Health & Hygiene

Self Enhancement

News & Media

Healthcare & Medicine

Education & Learning

Law & Politics

Business & Services

Investment & Finance

Food & Recipe

People & Society

Tour & Travel

Automobile & Automotive

Outdoor & Sports

Jobs & Careers

Shopping Online

Children

Creative Arts

Computers & Software

Home & Garden

Science & Research

Index › Investment & Finance › Debt & Loan Consolidation

Living On The Edge: Nearly Half Of U.S. Adults Lack Adequate Savings

A penny saved is a penny earned'but according to that adage, many U.S. adults are not earning all that much.

That's because almost one-half of all U.S. adults (45 percent) say their household does not have enough money in liquid savings to cover at least three months of living expenses. Moreover, nearly one in ten adults (9 percent) say their household currently keeps no liquid savings, defined as any savings readily available as cash and not intended for long-term investment.

Among those earning less than $35,000, the numbers are more striking. Thirty percent of that group maintains no liquid savings. The new survey was conducted by Harris Interactive? and commissioned by LexisNexis Martindale-Hubbell's lawyers.com, the most comprehensive and trustworthy online resource for finding a lawyer.

"Three to six months' worth of money saved for living expenses is the minimum every household should have, no matter its income," said Alan Kopit, legal editor of lawyers.com. "Any less can leave people vulnerable to serious financial woes if they hit unexpected difficulties, like a job loss or medical problem."

The most common reason adults who save say they do so is to have a "rainy day" fund for unexpected emergencies. Seventy-three percent cited that as their motivation.

Nearly one-in-three adults (29 percent) are saving for a vacation, the survey found. And 15 percent are doing so to fund a special event, such as a wedding or birthday party, although that number rises to 25 percent among females aged 18 to 34.

"There's no wrong reason to save money, but it's a good idea to think about the basics initially," said Kopit. "First create a fund to cover living expenses if you're left without income for period of time. Once you have that established, you can start putting away money with other things in mind, like a vacation or a new car purchase."

Author: Stan Kingstone

Author Bio:

If you're ready to take control of your financial future, the representatives at National Planning Corporation, Member NASD/SIPC and a Registered Investment Adviser, can help design a comprehensive solution to meet your retirement needs. To find a representative, call (888) 711-6721 ext. 7816, or visit www.natplan.com and click on Investors. You may feel better about your future once you put your financial plan into the capable hands of a financial adviser.

The Truth about Credit Repair

Payday Loan Information Guide

Get A Cheap Loan, Forget About Your Worries

Credit Report - How to Improve Your Credit Score

Bad Credit Loans Help You in Rainy Days

Financing Your Business

Bury all Your Worry in Cheap Loans

Mortgage Credit Repair After Experiencing Mortgage Servicing Hell

Short Term Cash Loans

Deciding Whether to Refinance a Mortgage Loan

Things to Consider When Choosing a Christian Debt Consolidation Company

Finding a Christian debt consolidation company to meet your needs can seem overwhelming and intimida ... - Larry Mitchell

Adjustable Rate Mortgage Loans

An effective tool used by home buyers, ARM or Adjustable Rate Mortgages, offers a lower interest rat ... - Jason Gluckman

Help Yourself With Personal Loans For Bad Credit

Things are changing at a fast pace and it includes an option for people with bad credit history to a ... - James Taylor

Finding Help to Get Out of Debt

For many credit card holders, credit card debt can put a damper on what would have been a quick fix ... - Peter Sissons

Cheap Car Loans UK - Drive Through Your Own Way

Cheap car loans in UK support the borrowers in meeting the expenses related to car. It can be purcha ... - Eva

Index >> Security & Privacy >> Terms of Use

Living On The Edge: Nearly Half Of U.S. Adults Lack Adequate Savings

Related Articles