Follow Me Out Of Debt | Get Out Of Debt And Get Into Prosperity!

There's some astonishing data out there that shows that nearly 7 in 10 Americans have less than $1,000 in savings. If you look just 50 years ago, Americans were saving double what they are saving today. We made less money, but we were able to save more of what we made. A lot of this has to do with the mentality back in those days to save first and spend second. The norm for us today is to spend first and save second, and this is not a good thing.   A recent survey of 5,000 people showed that 62% of those surveyed had less than $1,000 in savings. A second survey of just over 7,000 people showed that 69%, or nearly 7 out of 10 of those surveyed, had less than $1,000 in savings. A small 15% of those surveyed had more than $10,000 saved up for what I would consider to be a true emergency fund.   It's not a simple matter of income, either. While adults who earn a lower income typically have a more difficult time saving $1,000, astonishingly, 29% of adults earning more than $150,000 per year had less than $1,000 in