Today marks the launch of America Saves Week, a nationwide initiative designed to raise awareness about the importance of saving. To kick it off, the Consumer Federation of America and American Savings Education Council released a survey showing that— no surprise here—savings rates are closely tied to income levels, with households earning over $75,000 saving much more than those earning less than $35,000. Just over half of survey participants said they were saving at least 5 percent of their income.
The initiative's website offers videos, savings strategies, and success stories. Stephen Brobeck, executive director of CFA, says just developing a savings plan can go a long way toward helping people actually sock away more money.
• Check out this week's Carnival of Personal Finance for tips on online banking, navigating Costco, and saving.
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