Trading company Scottrade says people aren’t saving as much as they admit they should.
A new survey of 1,000 people found “that while more than 60 percent of Americans recommend saving between 6 and 19 percent of their income annually for retirement, less than a third actually do.” It also found Americans spend more than a fifth of their income on mortgages and debt.
The survey was a follow-up to an annual one in January, so findings can be compared. And they show that more people are using smart saving strategies than in January 2011, but fewer than six months ago.
| Actions Americans are Taking to Reduce Financial Stress | |||
| January 2011 | January 2012 | June 2012 | |
| Spending Less | 63% | 69% | 64% |
| Using Coupons | 59% | 67% | 60% |
| Comparison Shopping | 58% | 65% | 61% |
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