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32% of Americans not saving any money

32% of Americans not saving any money
Posted February 26th, 2014 @ 10:53am by Evann Gastaldo, Newser Staff

(NEWSER) – A new survey finds that nearly one-third of all US households aren't putting away any money for a rainy day. The American Savings Education Council survey finds that just 68% of Americans spend less than they make and save the rest, up from 65% last year but down from 73% in 2010. And Commerce Department data backs that up, theWall Street Journal reports: In December, the personal saving rate was 3.9%, down from 5.8% in 2010. The ASEC survey found that households earning more than $50,000 were more likely to save, more likely to reduce their debt, and more likely to have a "sufficient" emergency fund than those making less than $50,000.

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