NEW YORK (TheStreet) -- There's no doubt Americans are having a tough time saving money -- but a median household saving rate of zero dollars?
That's the reality, according to data from Interest.com, although the site also says there should be $668 left over in the household budget after paying all the bills.
Way too many households are spending too much money while accumulating too much debt, and that leaves them with a savings rate of zero, the site says. If those households pulled back on excess spending, they could still pay their bills and have that extra $668 in their bank accounts every months -- or an extra $8,016 over the course of a year.
"Many of us feel like we're living paycheck to paycheck because of how we choose to spend our money," says Mike Sante, managing editor at Interest.com. "It's not that we can't save. It's that we don't save. It's something we can control and change."here.) Keeping track of what money comes into the household and what goes out is still the best way to stay out of debt and start building a healthy amount of savings in the bank every month. As Interest.com reports, that's just not happening right now in too many urban areas of the country. That leaves millions of households scrambling to pay bills, but depleting their savings in the process -- all the way down to zero dollars a month.