Latest Articles by Dan

July Savings Index: Americans Pull Money From Savings at Highest Rate in 2022
Many Americans are increasingly fearful that the economy is approaching a recession. For many, that means it’s time to start saving again. The latest MagnifyMoney Savings Index indicates that 42% of consumers saved money in July, up from this year’s 35% low in June. But rising inflation means many are ... Read More
August 1, 2022
Millennials’ Net Worth Has Doubled Since Start of Pandemic
The COVID-19 pandemic altered the landscape of the U.S. economy. Significant government relief and rock-bottom interest rates helped households build wealth, even as an inflation spike eroded their money's real value. In the first quarter of 2020, U.S. households’ total wealth equaled $103.99 trillion, but that figure spiked to $141.10 ... Read More
July 25, 2022
68% of Americans Don’t Feel Financially Prepared for a Recession
Most Americans believe the nation’s economy will be in a recession in the next six months, according to the newest survey from MagnifyMoney — just over two-thirds of consumers say they’re not financially ready for it. That last part is particularly troubling — especially considering that Americans are not too ... Read More
July 11, 2022