Close
Bonneville Phoenix Network
 KTAR News
 Arizona Sports
92.3 FM KTAR
Menu
Social
Latest News

Recession's silver lining: Americans saving more

The financial crisis had at least one positive effect: it influenced almost half of Americans to start emergency savings, according to an article by Time.

Even as the economy starts to improve, nearly half of those surveyed by Fidelity said they are still saving more, reducing debt and building an emergency fund.

Of those who have made financial changes, 78 percent say they are permanent because they created a new finance strategy. The increased financial changes have left those saving feeling less scared.

When the crisis first hit, 64 percent of people said they were frightened and 45 percent said they were prepared. Now, 61 percent say they are prepared, while only 45 percent say they are scared.

Those surveyed came from households with investments. On a broader scale, the findings may not be so positive, according to the Time article.

Some indicators show savings have declined. Either way, just as the Great Depression inspired financial frugality for years, the recession may have had a similar effect.



EMAIL: alovell@deseretnews.com

World Class Arizona

  • Dignity Health World Class People. World Class Company. Excellent care, delivered with compassion, for all in need.

Voice For A Better Arizona

  • Family in Focus KTAR spends the week taking a look at the issues a modern Arizona family faces.

Comments

comments powered by Disqus
Latest News