This is good, right? Right?
Shouldn’t we all strive to become more fiscally responsible as individuals, especially now that we realize so many of our financial advisers are full of phooey?
Yes, yes; I understand the entire world hopes and prays Americans will spend beyond our means, gobbling up piles of crap we don’t need– or even really want– and stressing ourselves into heart attacks over our insurmountable debt. But, perhaps we’re evolving out of our must-have-everything-at-any-cost mindset?
U.S. households socked away most of the extra income they got in January from annual cost-of-living raises, boosting the personal savings rate to a 14-year high, the Commerce Department said Monday.
Disposable real incomes rose in January at the fastest pace since May as annual pay raises and cost-of-living increases took effect while taxes plunged 9.3%, the Commerce Department said. Real disposable incomes (adjusted for inflation and after taxes) increased 1.5%, despite the third straight decline in income from wages and salaries.
Read the rest of this MarketWatch.com article here.
This article appears in Mar 3-10, 2009.
