http://personalmoneystore.com/moneyblog/2009/02/02/americans-saving-more-article-by-payday-advance-loan-source/ Rainy day funds growing
Photo of Bank of America ATM Machine by Brian ...
Americans are already sticking their extra cash in the bank.
It seems people in the United States are starting to learn their lesson, or trying to avoid needing another payday advance loan. The personal savings rate rose in December to 3.6 percent, the highest it has been since Americans got their stimulus checks last year in May.
The main contention congressional leaders have with the economic stimulus plan, currently under review by the Senate, is that the $500 tax credit for individuals will not help the economy. This pattern, Americans putting more money into savings paired with the fact that most stimulus checks last year seemed to be tucked away, presents some compelling evidence.
Will stimulus make a difference?
Its true that the $500 tax credit is a different animal from the $300 to $600 stimulus checks individuals received last year. The $500 Obama is proposing would come to individuals gradually by taking just a little bit less out of each paycheck over the span of the year. Maybe for some this will mean they dont need a payday advance loan, but the amount is so small its doubtful. To read more please visit... http://personalmoneystore.com/moneyblog/2009/02/02/americans-saving-more-article-by-payday-advance-loan-source/
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