The average American saves less than 5% of his or her disposable income. Many financial advisors say that isn’t enough to ensure a comfortable retirement.
The personal saving rate, calculated by the federal Bureau of Economic Analysis, has hovered around 5% for the past few years. By the end of June, the rate had dipped to 3.8%, the bureau reported.
There is a saying, “Do something today that your future self will thank you for.”
Never has a statement been truer than when discussing the purchase of insurance. Yes, it can be tough to write a check for something you may never use, but insurance is a safety net, protecting you, your family, and your assets. By 2050, the number of individuals using paid long-term care services in any setting will likely double from the 13 million using services in 2000, to 27 million people.
It’s a familiar — and frustrating — experience: Planning a trip and checking airfares every few days, waiting for the perfect price to appear. Finding the opportune moment to buy is no easy feat.
Plane ticket costs fluctuate constantly. In fact, during the typical 11-month period a flight is listed, the price changes every four and a half days on average, according to CheapAir.com’s annual airfare study.
Sometimes the dark side is too strong to resist, urging you to splurge on that second, even more perfect pair of brown boots or upgrade to a more stylish pair of wireless headphones. But the fleeting satisfaction you get from succumbing to these seductive I-didn’t-know-I-needed-it-until-just-now purchases can fade to a sense of financial failure when you get your credit card statement.
The fall decorations—pumpkins and haystacks and scarecrows—are just making their way onto porches, but you know what that means? The December holiday season is just weeks away. Time to decorate, shop, bake, party, shop, dress up, shop. It’s easy to be swept into the very expensive winter months, but poor holiday planning can result in a very painful and expensive January.
Your credit scores take a hit if you fall behind on payments to a creditor, and again if an account is sent to the creditor’s collection department or sold to a third-party collector. You may be able to repair some damage to your scores by resolving a collections account on your credit reports.
Raising kids today is expensive! Between funding the basics, childcare, saving for college, extracurricular activities, birthday party gifts and beyond, some parents might question if they need to dole out an allowance, too.
There is a saying, “Do something today that your future self will thank you for.”
Last winter, 
Debt is something no one likes to talk about. In fact, to some, it’s a dirty word. But rest assured Americans are swimming in it.
