We Americans are notoriously bad at saving money. While people in Germany, Sweden and even France save about 10% of the money they make, folks in the U.S. save closer to 3 or 4% of their earnings. With so little money saved, Americans face difficulty absorbing economic shocks like recessions and layoffs, and also find themselves with too little money in the bank when they retire.
What will it take to get Americans to save more money? According to a study in Psychological Science, it will require a shift in our thinking. But to which way of thinking? …(Read more and view comments at Forbes)