Americans: World’s Worst Savers
Most Americans would like to think that this great nation is a great example of a diverse nation. But there is one thread that unites all Americans across great divides: we just love to spend money. Americans have increasingly been spending more than what they earn. And the trend is worrisome to say the least. According to a poll conducted by ACNielsen, Americans, along with the Portuguese, are the world’s worst savers!
And there are more statistics to increase the worry lines on your forehead. According to the Federal Reserve, U.S. consumer debt stood at $2.16 trillion as of October 2005. Some people are known to have $60,000 in credit card debt! Scary statistics but if are one more number in that statistic, you better do something fast before your house of cards tumbles.