Alexander's Blog – January 2010 Archive (1)

Who Needs Savings: You Do!



U.S. households with less than $500 in the bank

Age group Percentage

Under 35 34.5%

35-44 25.1%

45-54 22.1%

55-64 19.0%

65-74 18.8%

75 and over 14.9%

Source: Federal Reserve Board's 2004 Survey of Consumer Finances



Numbers do not lie. People fail to save and in turn create more loss of money for themselves through overdraft fees and other unnecessary expenses. As a banker, my primary concern is to help my… Continue