FoI For Immediate Release on August 28, 2007 

Living without a savings account is tantamount to a trapeze artist flying without a safety net.  However, the recent the National Foundation for Credit Counseling (NFCC) Financial Literacy Survey reveals that almost two-thirds of those surveyed admit to not tracking their spending.  On top of that, a November 2006 Pew Research Center telephone survey showed that two-thirds of Americans acknowledge they do not save enough, and more than one-third say they often or sometimes spend more than they can afford.   Spending with abandon combined with little if any regard for savings is a recipe for financial disaster.