Americans Choose Pay Days Over Holidays

Thu, Feb 11, 2010

Household Savings

New Survey Reveals Americans’ Savings Habits and the Lengths Some Would Go to Fatten Their Wallets
Today Capital One Direct Banking released the findings of a new survey that delved into the relationship that Americans have with money and household savings. While the survey explored topics ranging from how savvy Americans are at saving to how honest they might be during these hard economic times, one thing’s clear – everyone could use a little more money in the bank.

In fact, 25 percent of respondents who are employed full or part time would work every day of the year if it meant doubling their monthly income. What’s more, 35 percent of respondents would agree to work on holidays and nearly one out of five (19 percent) would agree to give up all of their vacation days to receive twice their monthly salary.

Furthermore, 27 percent of respondents would keep any amount of money that they found on the ground outside their workplace, and 15 percent have secretly withdrawn money from a joint savings account shared with a spouse or partner. Personal finance expert Lynnette Khalfani-Cox believes that there are more desirable ways to increase your savings and advises that building wealth could be as simple as automatically transferring money from your paycheck to your savings account every month. Unfortunately, nearly one in four do not do this according to the survey. She also recommends comparison shopping to find a savings account that works for you.

SOURCE Capital One Direct Banking

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This post was written by:

Richard Tyler - who has written 467 posts on Free Investment Advice.

Ignorance is often the reason why some people are unable to harness upon what they already have to make more money while some 'in-the-know' get richer every year simply through investments. Invest Money Stocks strives to be a wealth of knowledge for those who need help in investment and wealth management matters. Invest Money Stocks covers a wide range of topics from business management, home budgeting, personal wealth management to stocks investment, options trading, penny stocks trading, forex trading, bonds, technical analysis, fundamental analysis and more.

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