If Donald Trump wants to America to be great again he needs to encourage Americans to save!
More jobs and better wages won’t produce the generational change that will make America great again. One of the curses of a poor economy where people are forced to live hand to mouth is that it trains people not to save. Then, when times get better, they don’t change that behavior.
Savings are every bit as necessary as privately-held firearms to a free society.
We need to develop habits that are conducive to freedom. Habits like budgeting, using cash, and using evelopes:
Americans still aren’t saving much. That’s according to a new survey from Bankrate.com, which found that 20 percent of Americans don’t save any of their annual income at all and even those who do save aren’t putting away a lot.
Only 16 percent of survey respondents say that they save more than 15 percent of what they make, which is what experts generally recommend. A quarter of respondents report saving between 6 and 10 percent of their income and 21 percent say they sock away 5 percent or less.[…]
“With a steady, significant share of the working population saving nothing or relatively little, it’s virtually guaranteed that they’ll be unable to afford a modest emergency expense or finance retirement,” says Mark Hamrick, senior economic analyst at Bankrate.
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