Las Vegas, NV, September 08, 2014 --(PR.com
)-- A large majority of consumers surveyed said they cannot save money and are unable to make any sort of investments. The results were found as part of a survey conducted by Getting Money Smart.com. Higher prices paid for groceries and other goods, including basics like utilities and gasoline are being blamed for the lack of savings.
Slightly more than 2 out of 3 respondents (67%) said they were unable to save money or make investments of any kind. The disappointing result comes six years after the financial crisis reached its peak to send the U.S. economy into the Great Recession. The drop-off in savers indicates major changes for many American households, where saving money is no longer possible.
A tough economy, lower wages in many areas of the nation paid to workers, and reductions in work forces combine to make it difficult for many consumers to pay bills, much less save money or make financial investments.
However, improving conditions on the job front with more hiring by some employers is helping to push a slow economic recovery forward. Construction and retail workers laid off during the recession are going back to work in increasing numbers. Nonetheless, the recovery is sporadic and has been slow, taking a toll on families and taking any money they might consider saving for necessities.
GettingMoneySmart.com regularly surveys visitors on important issues related to the economy. Journalists, including experts in stocks, bonds, real estate, money management, personal finance and banking provide detailed reports and forecasts so consumers can better protect themselves in the new economy.