(DES MOINES) There’s a new survey showing many Americans could “shore up” their personal savings. The survey finds 28-percent of Americans have zero savings, and about half of Americans barely have enough to cover three months of expenses.
Jan Knock, of Iowa State Savings Bank in Creston, reminds consumers, even when times are good, clouds can form on the horizon.
“Even though Iowa’s economy is relatively strong and Iowan’s tend to be prudent individuals overall, who prepare and save, we still see a tremendous need for Iowan’s to take a strong look at emergency savings,” said Knock.
They know that all too well in Creston, where tornados caused so much damage earlier this year. Knock also recommends naming special savings accounts, for vacations for example, so it seems less like “subtracting” and more like “adding” to reach a goal.
Iowa Radio Network