More Than Half of Americans Have Seen A Decrease in Their Savings and Investments What To Do If Its Happened to You
Having savings and investments is a vital part of achieving financial stability and well-being. But contributing money to these types of accounts can be difficult, especially in the face of rising costs and interest rates.
A recent GOBankingRates survey found that just over 56% of people saw their savings or investments drop over the past year. In comparison, only 15.40% of respondents said that their savings stayed level, while just under 8% indicated that they increased during this time. Along with this, roughly 20% of respondents indicated that they dont have any money in savings or investments at all.
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If youve experienced a decrease in your savings or investments, here are some things you can do to start building back up.
Evaluate Your Finances
The first thing you should do is step back and take a moment to look over your finances. Try not to stress out or panic, as this can make it more difficult to make sound financial decisions.