MINNEAPOLIS (WCCO) — A new survey reveals many Americans aren’t doing a good job when it comes to saving their income.
According to Bankrate.com, roughly half of all Americans save 5 percent or less of their incomes.READ MORE: 84-Year-OId Man Found Pinned To Death Under Minivan In Kandiyohi, Sheriff Says
Bankrate’s chief financial analyst says you should try and save 15 percent for retirement savings, emergencies and other factors.READ MORE: Fargo Woman Killed In Head-On Crash Near Evansville
Only about one in seven people currently save more than 15 percent.MORE NEWS: Why Are Federal Tax Refunds Delayed? And What Can You Do About It?
Nearly 20 percent are not saving one dime.