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Survey finds Americans put more money in their savings accounts last year

Monday, March 19, 2012

A recent survey from CouponCabin.com reveals that nearly 40 percent of adults in the United States have put more funds in their savings accounts over the last year, compared with previous years.

In addition, more than 10 percent of U.S. consumers have opened a new savings account during the past year. Two percent of respondents reported $100,001 or more in their savings account, and 7 percent reported between $30,001 and $100,000 in their savings account.

"No matter how much money you can save each month, it's important to set aside money for an emergency, the future and other unexpected expenses," said Jackie Warrick, president and chief savings officer at CouponCabin.com. "Many Americans continue to face financial challenges, but the good news is that they are recognizing the importance of setting aside money in a savings account - no matter how big or small."

The economy is showing signs of improvement, as a number of studies have found consumer confidence has increased while others have indicated a turnaround in the housing market. The recently released RE/MAX National Housing Report reveals that home prices are on the rise across the country and sales are beginning to trend higher as well, indicating the housing recovery may be underway.

Consumers interested in investing any extra income may want to look into no annual fee IRAs as a way to prepare themselves for retirement.

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