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Cash Quiz: Can You Answer These Questions About Saving Money? – GOBankingRates

Everyone wants to be able to save more, but it’s hard to know where to start. You might know how much you should be saving, but you’re not sure where to house your funds — or vice versa.

If you’re confused about …….

Everyone wants to be able to save more, but it’s hard to know where to start. You might know how much you should be saving, but you’re not sure where to house your funds — or vice versa.

If you’re confused about savings, you’re not alone. Statistics show that a lot of us could be better at saving money. The ​​MagnifyMoney Savings Index reports that about 1 in 5 Americans do not have any money saved. And when people do have money in savings, it’s usually not a huge amount. GOBankingRates conducted a survey and found that nearly 70% of Americans have less than $1,000 put away in savings, and only 5% of Americans have between $10,000-$20,000 saved. 

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Do you know how much should be in an emergency fund? Or how much you should be taking from every paycheck and setting aside in your savings account? How about how much you should be contributing to retirement accounts?

There’s no exact amounts, but there are ideal ranges that you should be shooting for based on your situation. Take the GOBankingRates savings quiz to see how you stack up and how you can improve on your savings.

Source: https://www.gobankingrates.com/money/financial-planning/can-you-answer-these-questions-about-saving-money/

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