Savings Facts




































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	*The American savings rate has been declining for the past 65 years, and in l998, actually became a NEGATIVE amount, -0.2%.¹ Some Americans are "loaded down" with DEBT. Two-thirds of cardholder households carry an average of $7,000 of credit card debt and are paying an average of 17%.² Personal bankruptcies will rocket to more than 2.2 million by 2001, which is a 75% gain over 1997 levels.³ Many Americans are not financially literate. A 1997 survey by The National Association of Security Dealers found that 78% of Americans can name a character on a sitcom, but only 12% know the difference between a load and a no-load mutual fund.⁴ Schools, organizations, and families need help. When a nation-wide survey of 1,500 high school students asked questions about money, the average score was an "F" and only 5% scored a "C" or above.⁵ Financial literature is too complicated and difficult to understand** according to a recent survey of Americans.⁶ We’re not doing enough, early enough, and we’re making financial information too complicated. Kids follow our example — let’s get them off to a good financial start! ____________________ 1 U.S. Dept. of Commerce, Bureau of Economic Analysis 2 Consumer Credit Counselors of America 3 Study by Visa USA, l998 4 National Association of Security Dealers 5 JumpStart, The Coalition For Financial Literacy, 1997 6 National Association of Security Dealers, 1997

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