Americans Making Financial Trade-Offs, Not Always the Right Ones
Baby Boomers, Gen Xers and Millennials are making conscious efforts to spend less and save more, but won't cut back in areas that can make the biggest impact on their savings.
More than half of Americans surveyed by Ameriprise say they are saving up to an average of $185 per month by cutting back on eating out, entertainment and clothing, says Suzanna de Baca, Ameriprise VP of Wealth Strategies. Ameriprise surveyed Baby Boomers, Gen Xers and Millennials and found that people are making conscious efforts to spend less and save more. However, the survey also uncovered that most Americans don't plan to cut back in areas that can make the biggest impact on their savings.
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