• Our Savings Rate vs. the American Savings Rate

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    According to a new article, “The Urge To Splurge,” the average American now spends $1.22 for every dollar they earn. Yikes! No wonder the whole country is in debt! The article made me want to calculate our own savings rate for comparison. A quick back-of-the-envelope calculation for the last week shows that we spent 87 cents of every dollar we earned, with the rest going into savings. I’m curious to see our long-term average. Maybe it’s time to break out the Microsoft Money software again.

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