Financial budget and savings planner full#

Being in debt makes it harder to save, which helps explain why the average personal savings rate has hovered around 5% the past few years.

Financial budget and savings planner full#

household is $130,922 in debt, it seems a lot of Americans are going to bed with full stomachs.

вЂњRather go to bed without dinner than to rise in debt,вЂќ Franklin wrote in his 1758 essay вЂњThe Way to Wealth.вЂќ AverageВ Savings Rate In The United StatesД¬onsidering the average U.S. The first thing it takes is the proper mindset. Nobody, including Franklin, said it would be easy. There are countless reasons why you should save, but a lot of people come up with even more reasons why they canвЂ™t. They can die with the comfort of knowing theyвЂ™ve left money to help relatives and friends.

They can retire to a life of travel and golf instead of bagging groceries. They have the flexibility to invest in their dreams. Successful savers donвЂ™t have to break out their credit card when their air conditioning unit conks out or they have medical bills not covered by insurance. How many hours are lost worrying about where the money will come for retirement, emergencies, the kidsвЂ™ college education or just next monthвЂ™s phone bill? Saving is the lifeblood of financial success, not to mention a good nightвЂ™s sleep. If Franklin were still alive that statistic might kill him. Really, 21% donвЂ™t have a savings account and 28 percent have one but thereвЂ™s nothing in it, according to a 2015 study by GoBankingRates. Unfortunately, many Americans have stopped listening to his most famous money tip:ДЄbout half of all Americans havenвЂ™t saved a penny. He was a Founding Father full of timeless financial wisdom. The rumpled face of Benjamin Franklin graces the bill. The best source can be found in your wallet, assuming you carry around $100 bills. When it comes to financial advice, forget the gurus, websites, bankers, late-night infomercials and rich uncles.