If the recession has a silver lining, it’s the return of the saving American. As CNN Money reported today, the recession has been a wakeup call for workers, half of whom have saved $25,000 or less for retirement. Over a quarter are not at all confident that they will have enough money to retire at any age. It is clear that making ends meet month-by-month is not enough. Consumers are looking for ways to take care of their future finances, and responding not just by cutting back on spending, but by increasing their savings as well.
PromotionalCodes.net has looked into this trend, and described now the recession has led to a resurgence in frugal living. For instance, the last few years have seen a boom in coupon redemption, with consumers saving $200 million more now than in the darkest days of the recession in 2009. Supermarkets have seen a 30% increase in the sales of generic goods, and 44% more Americans are buying in bulk. As gas prices soar, gas consumption continues to decline despite millions of drivers being added to the roads each year. And most promising, Americans are saving 4 times what they were in 2005, and taking on half the debt.
While the economy seems to be making its ascent from the recession, consumers are retaining those habits they developed in the most meager of times. Check out the infographic below for more stats on how the saving American is planning for the future:
Source: Promotional Codes
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