You may have seen the numbers: In the last couple of years, the personal savings rate has kicked up from about 2%-3%—where it hovered for years—to an astounding 6% today.
Economists and government wonks can gripe all they want about how too much saving could cause the economy to stall. The more important point is:
How on earth is our spend-happy country suddenly hooked on savings?
Obviously, the fear of losing your job or living without a cushion has inspired many people to squirrel away cash. Plus, with credit being so tight people are less inclined to spend the little loot they have.
But the bigger mystery is this:
What methods are people using to save so effectively—when they couldn't rub together two nickels before?
|You tell us. Based on your own experiences and observations, what's inspired or enabled millions of people to save more money?|