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America Saves 2012 Saver Survey

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America Saves
America Saves

A survey of 416 America Savers found: 1) Savers who joined in 2010 reported saving a median of $2,000, while those who joined in 2011 saved a median of $1,000. 2) Savers of all income levels reported being able to save, including those making less than $25,000 who saved a median of $400. 3) The most common important savings goals were debt repayment, emergency funds, and retirement. Savers reported feeling more hopeful about their finances and that they were saving more and managing debt better since joining America Saves.

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Saver Survey Results Spring 2012
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.
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
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
Who Are America Saves Savers? Gender Age Marital Status 3% 5% 3% 65 Married 20% 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
Amount Trying to Save Each Month Most Frequent Amounts 45 40 35 30 25 20 15 10 5 0 $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
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
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
Amount Saved Since Joining America Saves – By Marital Status Most Frequent Amounts $1,200 $1,000 $800 $600 $400 $200 $0 Maried Divorced/Separated Single Married 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
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
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 $100,000 Savers of all income levels reported being able to save - including a reported savings of $400* by those making less than $25,000. N= 111; *Median Value
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
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 true 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. N= 111
Visit AmericaSaves.org for more information

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America Saves 2012 Saver Survey

  • 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 Married 20% 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 Amounts 45 40 35 30 25 20 15 10 5 0 $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 Single Married 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 $100,000 Savers of all income levels reported being able to save - including a reported 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 true 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. N= 111
  • 14. Visit AmericaSaves.org for more information

Editor's Notes

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