Americans spend 26 percent of their earnings on housing and associated costs. The question now is how do Americans save? Most wage earners watch their paychecks go to pay bills just to sustain their lifestyle, but smart wage earners will take advantage of America Saves week to learn how to allocate a portion of their earnings to savings.
Did you know that your employer’s 401K is one of the only sources of “free money”? When employees participate, the employer matches a portion of the savings percent. For example, if you save five percent of your income, your employer may match up to three percent. The employee is receiving a 37.5 percent return on the 401K investment.
To learn more about how America Saves click here.
For assistance setting a savings goal, click here.
To test your savings savvy, click here.