Wednesday, July 13, 2011

What's on people's mind when it comes to their money - Google knows

Google Trends measures search patterns over time. It looks like "saving" is on people's mind from recent search inquiries.

It appears that the Recession has finally taught U.S. households the need to get their balance sheets in better order. Recent data on income and spending reflects that U.S. households have socked away 5.8% of their after-tax income. That was the rate averaged for all of 2010, and a far better pace than just before the recession when consumers saved barely more than 2%.

Americans must learn to live within its means. We have been conditioned to spend for a very long time. The recession changed all of that.

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