Americans Hoarding Money

MoneyTips

Financial advisors tell us to save money for various reasons – save for an emergency fund, save up for a down payment on your home, save for retirement, save for your children’s college educations – but is it possible for savings to go too far, and does it matter how you save?

Recessions tend to breed more fiscal conservatism, and the past recession is no exception to that rule. Many Americans were forced to be more careful with their cash. Those cautious habits appear to be sticking.

Data from the Federal Deposit Insurance Corporation (FDIC) shows Americans are increasing their cash reserves as the economy continues to improve slowly. Total bank deposits in the U.S. reached $10.7 trillion in 2016, maintaining a steady growth trend in cash reserves.

Combined with the fact that wages are staying relatively stagnant and

MoneyTipsFinancial advisors tell us to save money for various reasons – save for an emergency fund, save up for a down payment on your home, save for retirement, save for your children’s college educations – but is it possible for savings to go too far, and does it matter how you save?

Recessions tend to breed more fiscal conservatism, and the past recession is no exception to that rule. Many Americans were forced to be more careful with their cash. Those cautious habits appear to be sticking.

Data from the Federal Deposit Insurance Corporation (FDIC) shows Americans are increasing their cash reserves as the economy continues to improve slowly. Total bank deposits in the U.S. reached $10.7 trillion in 2016, maintaining a steady growth trend in cash reserves.

Combined with the fact that wages are staying relatively stagnant and […]
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