This isn’t coupon-related, but it is money-related, and I thought it was an incredibly eye-opening statistic.
CBS News reports that 40% of Americas have $500 or less in their savings accounts. Additionally, the same story reports “the survey found that 54% of respondents don’t have a savings plan in place, and 45% are afraid they’ll never be able to save.”
This was particularly interesting to me in light of an email I received yesterday, which I’m going to share a portion of here:
Dear Jill
My wife lost her job about four months ago. She bought your coupon DVD and then went through a time of depression as we were struggling to adjust to the new normal of one income. We didn’t have much savings and spent most of it making things meet for those months. At the end of September she decided to finally watch your DVD and get started with coupons. And it changed her. She got excited and told me she knew she could do this.
Well the first week she was using coupons she saved $32. The second week she saved $47 on our groceries and I saw her spirit lift and come back. This week she saved $53. We are already doing the math and figure if she can average to save even $45 a week that would be $180 a month but she is determined to save more! The way I look at it we would be spending this money anyway for food so the extra she is saving is going in the bank to help build back up our saving. It’s just amazing the change in her and we are thinking about how much we can save.
If this couple saves $180 a month with coupons for the next three months, they’ll have $540 in the bank — which is more than 40% of Americans do.
That’s pretty powerful.
eztupp says
How inspiring!
Supermom10 says
Wow!! That is great. It is awesome to see how we can save – shopping sales and using coupons. Thanks for providing the deals every week.
soapboxtray says
I really hope to convey this exact concept to others around me as well as myself remembering it! it is so important to put that money aside. Just so much I could go on and on about with this topic :-) Thanks for posting/sharing.
christina23 says
except for my 401K I was one of that statistic. I’m thrilled to say that is no longer the case…do I have enough saved? No, but I’m on my way. I almost hate to say it but thanks to the crazy Extremee Couponing for me into couponing. The biggest thanks, though, goes to Jill and her DVD(s)…that took my couponing to a new level and there is no going back.
Jill you truly have blessed so many people doing what you do…Thanks!!!
rswehrle says
I follow Suze Orman on MSNBC almost every Saturday night. She helps people with money issues and she is always stressing the importance of an eight month emergency fund. Saving this emergency money is not just for paying your bills, but also for helping to maintain your pre-emergency lifestyle, like paying for hobbies and other kid related things. Obviously, at times of unemployment, many things need to be cut, but having an eight month emergency fund will ease the stress of looking for work, and allow you to be able to sleep at night.
I am currently in the situation of using my emergency fund, and I have had to make many necessary cuts, this includes my shopping list. I now ask myself: “How bad do I really NEED it or do I WANT it? Do I have it in my pantry already? Will it go on sale again at a better price? Is it really an item I need to survive?” I know that my family will make it through, and when we are able, my husband and I will rebuild our emergency fund one step at a time. The hardest part is taking the first step, but after that, it is all cake!