A survey was recently conducted in America where the results show that approximately 76% of the nation is not saving any money on a monthly basis. Although the survey was conducted in America and the results are pertaining to America only, it is more of a global problem.
People who are experiencing a small relief on their monthly expenditure where their paychecks are stretching from one payday to the next, there is no spare money to put into savings on a monthly basis and any unexpected earnings are spent on things which are needed that have had to be put on hold for a period of time.
Living your life from paycheck to paycheck takes away the ability to save for a rainy day, yet the importance of having a savings stashed away is not only to ensure you have the financial security of a savings, but studies show that it also helps you to sleep better at night.
The moral of the story, savings are important, but not everyone is able to afford the luxury of saving.
Source: CNN Money