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Spendthrift Americans Grapevine Exaggerated; Consumers Reports Indicates More Savings Than Credit Card Debt

Wednesday, May 29, 2013 - 9:32 AM
According to experts, despite of credit card balances coming down through a recession that hit in 2007, the fundamental behavior of consumers of not saving enough didn’t change. As reported by the Department of Commerce, the total savings of average household in 2012 were 3.9%, which is considered better than only a 0.9% of Americans who were saved in 2001. However, it is less than the 5.4% savings rate in 2008.

Spendthrift Americans Grapevine Exaggerated; Consumers Reports Indicates More Savings than Credit Card Debt « Market News | FindRates.com
6
ShorebreakShorebreak2,604 posts since
Apr 6, 2010
Rep Points: 14,109
1. Wednesday, May 29, 2013 - 5:14 PM
"However, irrespective of how much money a person is earning, it is important to save money in the banks and cut on irrelevant expenses to get going well without being broke."

Have on idea what English this is??  What is he trying to say?  Maybe "save money and cut unnecessary expenses are the prudent way to go"?

Anyhow, I often wonder how these people comeup with statistics and numbers (pulling from their hat).  The conclusions they came up with through random numbers and statistics simply do not register with me.
2
51hh51hh1,476 posts since
Jan 16, 2010
Rep Points: 6,426
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