Ep 24: Revenge Saving
from Your Money Call Hosted by Diane King Hall
In this episode of Your Money Call, Diane King Hall discusses the latest news on the job market, an overseas trend called revenge saving, and the state of savings in America. The job market data showed weaker-than-expected private sector job growth and a slowdown in wage growth. The trend of revenge saving in China involves extreme measures to save money, such as setting low daily meal budgets and finding saving partners on social media. The annual Bankrate survey revealed that more than one in four Americans have no emergency savings, but more people are prioritizing both paying down debt and increasing emergency savings. Diane suggests trying out the concept of revenge saving and recommends saving at least one month's worth of expenses to start. Takeaways The job market showed weaker-than-expected private sector job growth and a slowdown in wage growth. Revenge saving is a trend in China where people take extreme measures to save money, such as setting low daily meal budgets and finding saving partners. A recent Bankrate survey revealed that more than one in four Americans have no emergency savings, but more people are prioritizing both paying down debt and increasing emergency savings. Additional Notes: * You can follow podcast host Diane King Hall @dianekinghall on all social channels. *This podcast is for educational and informational purposes only. The content is not intended to be a substitute for financial or legal advice from your own financial advisor, accountant or attorney.
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