Weâ??re saving money again

June 26, 2009
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Americans have suddenly gotten serious again about saving money.

In April last year, we saved absolutely nothing; by May this year the rate had shot to nearly 7 percent, the highest in more than a decade, and some economists predict a return to the long-recommended level of about 10 percent.

If this continues, it means the country will need to borrow less from China and other lenders, but also that the economy wonâ??t roar again anytime soon. In other words, expect a muted job market for a long time to come.

Hereâ??s a question, though. Will this renewed interest in saving last? Or will we slide back into old habits?

Your thoughts?
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  • It'll definitely last for me.

    As will paying far less than 33% of net in house payments. That's just nuts.

    So will paying lower taxes by using tax-deferred savings vehicles; throwing more money into 401k right now while prices are depressed will pay big dividends in 20 or 25 years when I'm interested in retirement.
  • I've been saving 10% of my income for years and am looking for ways to save ad invest more. Like thundermutt said, I'm looking at this time as an opportunity to invest for the future.

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  1. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

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