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America Saves 2012 Saver Survey

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  • About 75% of savers reported that there was some truth to these statements.
  • Transcript

    • 1. Saver Survey Results Spring 2012
    • 2. Respondents: Who and How The following slides present the findings of a convenience sample survey of 416 America Savers (who joined in 2010 and 2011) conducted March 26 – April 30, 2012. Participants were recruited through the America Saves e- newsletter, direct e-mails, and through the America Saves Facebook and Twitter page. While results can not be generalized to the entire America Saves community, the findings provide insights into the savings attitudes and behaviors of America Savers.
    • 3. Summary of Findings Savers who joined America Saves in 2010 reported saving $2,000* since joining America Saves. Savers of all income levels reported being able to save – including savers making less than $25,000 who reported saving $400* since joining America Saves. The most important saving goals for savers include: Debt Repayment, Emergency Fund, and Retirement. Savers tell us that since they joined America Saves they feel more hopeful about their financial situation, they are saving more, and they are managing their debt better. *Median Value
    • 4. Summary of Findings As a group, female savers reported saving $500 less per household than male savers. Married and single savers reported saving $1,000* or more vs. divorced/separated savers who reported only saving $500* since joining America Saves. Savers age 55-64 reported saving the most successfully - saving $2,000* or more since joining America Saves. *Median Value
    • 5. Who Are America Saves Savers? Gender Age Marital Status 3% 5% 3% 65 Married20% 55-64 16% 14% 23% Single Female 45-54 56% Divorced or Male 21% 35-44 80% 24% separated 25-34 32% Partnered < 25 America Saves has a largely female audience, is comprised of savers of all ages, and 56% of savers reported being married. Gender N= 333; Age N= 333; Marital Status N = 333
    • 6. Amount Trying to Save Each Month Most Frequent Amounts4540353025201510 50 $25 $50 $100 $200 $300 $400 $500 $800 $1,000 Savers reported trying to save a median amount of $200 each month*. N= 227; *Median Value
    • 7. Amount Saved Since Joining America Saves – By Year Joined in 2010 Joined in 2011 $2,000* $1,000*Savers who joined America Saves in 2010 reported saving $2,000* since joining America Saves. N= 413; *Median Value
    • 8. Amount Saved Since Joining America Saves – By Gender Female Male $1,000* $1,500*As a group, female savers reported saving $500 less per household than male savers. N= 302; *Median Value
    • 9. Amount Saved Since Joining America Saves – By Marital Status Most Frequent Amounts $1,200 $1,000 $800 $600 $400 $200 $0 Maried Divorced/Separated SingleMarried and single savers reported saving $1,000* or more vs. divorced/separated savers who reported only saving $500* since joining America Saves. N= 281; *Median Value
    • 10. Amount Saved Since Joining America Saves – By Age Most Frequent Amounts $2,500 $2,000 $1,500 $1,000 $500 $0 < 25 25-36 35-44 45-54 55-64 65+Savers age 55-64 reported saving the most successfully - saving $2,000* or more since joining America Saves. N= 300; *Median Value
    • 11. Amount Saved by Savers Who Joined America Saves in 2010 – By Income Most Frequent Amounts $9,000 $8,000 $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 < $25,000 $25,000 – $50,000 – $75,000 – $100,000+ $50,000 $75,000 $100,000Savers of all income levels reported being able to save - including areported savings of $400* by those making less than $25,000. N= 111; *Median Value
    • 12. Most Important Savings Goal Savings Goals by % 3% Debt Repayment - 23% 8% Emergency Fund - 20% 4% Retirement - 18% 23% 4% Investment Savings - 6% 4% Pay Off Home Early - 5% 5% Homeownership - 5% 5% Home Improvement - 4% 20% Education - 4% 6% Vacation - 4% 18% Motor Vehicle - 3% Other - 8% The most important saving goals for savers include: Debt Repayment, Emergency Fund, and Retirement. N= 356
    • 13. Attitudes and behaviors of Savers Overall quality of life has improved More hopeful about financial situation Saving more Managing my debt better Actually managing my money better Confident about managing my money 0% 50% 100% % with rating Not at all true Not very true A little true Somewhat true Pretty true Very trueSavers tell us that since they joined America Saves they feel more hopeful abouttheir financial situation, they are saving more, and they are managing their debt better. N= 111
    • 14. Visit AmericaSaves.org for more information

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