We Spend Too Much, Save Too Little

Very few Americans are setting something aside for a “rainy day.” A health crisis for them will be crushing.

An editor with MoneyCrashers.com, Andrew Schrage, says in many cases they can't save because they have to spend every dollar they make in order to pay the bills.

“People's incomes have stayed more or less stagnant, or only a little bit of an increase,” Schrage points out, “while cost-of-living (has) increased fairly exponentially.”

Schrage says we don’t learn about something very important.

“Personal finance,” he says, “is not a strong focus in our education system here in the states.”

We're paying the price today … and tomorrow.

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