ziggy29
Moderator Emeritus
It's not just an emergency fund, it's a bomb shelter:
Americans start saving again _ when the economy needs them to spend -- chicagotribune.com
Some experts say consumers have been so shaken by how fast their wealth has shrunk, so burned by credit card debt, that they might not resume their robust spending for years, if ever.
"People are not saving; they are building financial bomb shelters," said Mark Stevens, who runs a management consulting firm, MSCO, in Rye Brook, N.Y.
Americans start saving again _ when the economy needs them to spend -- chicagotribune.com
Some experts say consumers have been so shaken by how fast their wealth has shrunk, so burned by credit card debt, that they might not resume their robust spending for years, if ever.
"People are not saving; they are building financial bomb shelters," said Mark Stevens, who runs a management consulting firm, MSCO, in Rye Brook, N.Y.