Many Americans say they continue to save even as inflation cuts their income, according to savings platform Prinquit. According to a recent survey commissioned by the company, 43% of respondents say they are building an emergency fund. The same percentage said they are saving money for travel. 42% said they were saving to pay off debt. Still, 75% say their income has not kept up with the rising cost of living, and 61% compare their cost of living to the cost of living.
The survey found that 35% of respondents are saving money for retirement, 14% are saving money for college or other education, and 10% are planning a major event such as a wedding or childbirth. I also found out that I am saving for life events. Nearly a third of her respondents (31%) are saving to buy a car this year, and 19% are saving to buy a home. read more.