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America Saves

AMERICA SAVES How much are Americans putting away each month? BillShrink examines user's savings and credit card payoff trends. Average Savings 140) 100 10-0 Savings on the decline since 2009. $62,093 $53,732 $33,552 Sept 2009 - Dec 2009 Jan 2010 - Dec 2010 Jan 2011 - May 2011 Average Intended Monthly Savings Average amount BillShrink users intended to save each month. $537 $539 $495 Sept 2009 - Dec 2009 Jan 2010 - Dec 2010 Jan 2011 - May 2011 Credit Card Payoff vs. Intended Savings A comparison of the average amount BillShrink users paid toward credit card debt per month and the amount they intended to save. $1,000 $800 $600 $400 $200 Jan 2010 May 2010 Oct Nov 2010 2010 Key amount spent credit card debt - amount intended to be saved Sept 2009 - May 2011 denotes significant difference between categories Credit Card Savings Tips 30 Use these tips to prevent or reduce credit card debt. never Carry A Balance Maintain Good Credit Good credit can save you thousands of dollars when it comes time to get a loan. Keep your credit score in great condition by making all your payments on time. Avoid costly interest rates by paying off your balance each month. Select The Right Credit Card A rewards card can be great if you pay off your balance but costly if you wind up in debt. Make sure you select the credit card that best fits your needs and spending habits. Pay Off Your Debt To avoid unnecessary interest, pay off the card with the highest rate first. It if becomes too much to handle, reach out to the creditors or consider consolidation to make it more manageable. Avoid Impulse Purchases Get in the habit of asking, "Do I really need this?" before making a purchase to avoid unnecessary debt. Pay More Than The Minimumm Paying more than your minimum payment each month can help you get out of debt faster and avoid extra interest. Tips to Help You Save Even More Install an attic fan and drop your Costs by 30% Power your computer down to sleep mode which uses cooling 70% less electricity. Cut your electric bill by 20% by adding insulation to your crawl space. Unplug your appliances when you aren't using them. Find the cheapest gas on your commute with BillShrink's free gas tool. Sources: BILLSHRINK %24

America Saves

shared by Angel on Dec 15
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This infographic provides information for savings in America. It shows what is the average that American families save per month and provides tips on how to save on credit cards and in daily life spending.




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