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October 06, 2015
MarketWatch: 62% of Americans have less than $1K in savings
According to a Google Consumer Survey, 62 percent of American consumers have less than $1,000 in their savings accounts – while 21 percent don't have savings accounts at all.
Twenty-nine percent of respondents had savings of more than $1,000; 10 percent had between $1,000 and $5,000, 5 percent had between $5,000 and $10,000, and 14 percent had $10,000 or more.
MarketWatch reported that the survey also showed that savings varied among different generations: baby boomers and seniors had the most money saved and millennials and Generation X had the least. In Generation X (ages 35 to 54), 31 percent responded that they had no money in their savings accounts.
The NAFCU research team reports that the average number of regular share accounts held by credit union members increased by 0.55 percent between June 2014 and 2015. The average dollar amount of credit union regular share accounts has increased from $2,833 in June 2013 to $3,070 in June 2015 – up 8 percent in the two-year period.
Twenty-nine percent of respondents had savings of more than $1,000; 10 percent had between $1,000 and $5,000, 5 percent had between $5,000 and $10,000, and 14 percent had $10,000 or more.
MarketWatch reported that the survey also showed that savings varied among different generations: baby boomers and seniors had the most money saved and millennials and Generation X had the least. In Generation X (ages 35 to 54), 31 percent responded that they had no money in their savings accounts.
The NAFCU research team reports that the average number of regular share accounts held by credit union members increased by 0.55 percent between June 2014 and 2015. The average dollar amount of credit union regular share accounts has increased from $2,833 in June 2013 to $3,070 in June 2015 – up 8 percent in the two-year period.
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