Americans reveal their thoughts on money-saving: survey

The survey unveiled that many respondents are skeptical about their ability to save money

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Americans reveal their thoughts on money-saving: survey. Source: shutterstock.com

According to PurePoint Financial research, half of US citizens think that making a basic saving plan is an important goal they’d like to achieve this year. However, but 28% of the respondents feel it will be impossible to accomplish.

The data showed that more than 20% of Americans would rather talk to their best friends about their most embarrassing health concerns than the status of their budget. In addition to that, almost 3 in 10 respondents prefer not to tell to their friends they have little to no savings because they feel ashamed.

Our survey found nearly 30% of millennials constantly feel like they have to decline invitations to go out with friends so that they can save money. We understand it can be hard to talk about finances with others, but chances are your friends may be in a similar situation. By opening a dialogue about your financial goals and challenges, you may find ways to spend time together without breaking your budget
Brian Milton, deputy head of consumer banking at Union Bank and PurePoint Financial

In the era of subscription services, it seems easier than ever to automatically spend rather than save. This way, a lot of Americans report they are often losing track of their monthly subscriptions and paying the price. For example, 1 out of 3 Americans doesn’t regularly review their subscription services to keep track of their spending. Furthermore, 1 in 5 US citizens has gone over their monthly budget because they forgot to cancel a subscription.

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