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Breaking Bad.

Byline: Rebecca Moore

Summary paragraph: Americans report poor financial habits

Americans admit they are guilty of some bad financial habits, with neglecting to save topping the list. Nearly one-third (30%) of people surveyed by Allianz Life said "not saving any money" was their worst financial habit in 2012. Twenty-four percent said they saved some money but admitted they could have saved more.

Aside from saving in general, 5% of survey respondents indicated they did not contribute to their employer-sponsored retirement plan. Three percent said their worst financial habit was "contributing to my employer-sponsored retirement plan but not taking full advantage of my employer match."

Other "worst" financial habits of 2012 cited by respondents included:

* Spending too much money on things I don't need-30%;

* Not having a household budget-18%;

* Spending more than I make-18%;

* Not educating myself about financial planning-15%;

* Paying bills late-12%;

* Making only the minimum payment on credit cards-10%;

* Playing the lottery/gambling-9%; and

* Failing to seek professional help with my finances-9%.

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Publication:PLANSPONSOR
Date:Feb 1, 2013
Words:163
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