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In a down economy, Americans are saving more, but their level of savings may not be enough to help them navigate through an unforeseen financial hardship.
According to the Bureau of Economic Analysis in the U.S. Department of Commerce, the personal savings rate for Americans in 2010 was around 6 percent.
America Saves Week and Kentucky Saves Week, the state-level campaign, were created to encourage people to find ways to save more, whether that’s building a savings account or emergency fund or paying off credit card debt. This year, the week is Feb. 20-27.
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