Americans Lack Knowledge Around Short Term Savings Benefits

Infographic - Americans Lack Knowledge Around Short Term Savings Benefits

65% of Americans do not know they’re missing out on free money by not having a savings account.

4 in 10 Americans believe their checking account and savings account have the same interest rates.

Of those Americans who have a savings account, over half (52%) do not know what their Annual Percentage Yield is.

1/3 of Americans Prefer Debt & Instant Gratification to Saving

1/2 of Americans do not have a savings target within the next five years.

34% More than one-third of Americans would rather go into debt for a large purchase than employ a savings strategy.

65% of Americans do not believe interest rates impact savings.

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