Now what's slipping away is the venerable "rainy day" fund -- savings vehicles that guaranteed a household would have cash in an emergency such as a job loss or serious health issue.
Global consumers are increasingly turning their backs on emergency savings funds just as the economic evidence suggest they need it most.
According to London-based Lloyds Bank, 36% of U.K. consumers say they have no rainy-day fund, and another 31% say they're not saving any money at all.BankingMyWay Weekly Rate Tracker pegs the current average U.S. savings account interest rate at 0.067%), but a passively managed mutual fund or exchange-traded fund filled with stable companies can give you a much higher rate of return with minimal fee expenses. Save your change. Start taking all of your loose pocket change, and all your change from those $10 or $20 cash purchases, and stash it in a jar -- and don't touch the cash. You can also save change from your debit card. Bank of America (BAC), for example, offers a "Keep the Change" program in which it rounds off the remaining change from a debit card purchase and steers it automatically into your savings account. It's no secret savings is all about discipline, but a healthy dash of creativity will help. If you apply both, you can beat the odds and bring your rainy-fund back to life.
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