We know that we need to save more. The standard piece of advice from financial professionals is that in order to put ourselves in a strong financial position, we should be saving at least 15% of our income.
Sound like a lot? You’re not alone. According to recent estimates, only about one in seven Americans saves as much as 15% of their income. Only one in four save at least 10%.
Need help saving more of your income? One sensible solution is to automate the savings process. Most banks will enable you to set up recurring transfers, so you can automatically put aside a certain amount each month. Click here to learn more.