Not surprisingly percent said credit cards make it difficult to save and percent reported having large consumer debt. Georgina and I never had those problems. No impulse spending for us when every penny went for basic necessities. Also set up automatic transfers from your checking account into a savings or investment account. In the survey knowledge of interest compounding beat all other choices for incentives to saving. In reality it would take years to accumulate the . But it hardly matters. After I noticed the mistake this and related questions with the correct numbers were asked of a similar group. The point We want to get that message out to more Americans. Small amounts of savings can add significantly over time said Kathryn Black senior vice president for Wachovia. Looking over our portfolio I know that s true. Refer to the Terms of Service .
Source: http://www.lohud.com/apps/pbcs.dll/article?AID=/20080106/BUSINESS01/801060308
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