A new online survey from GOBankingRates found that 66 percent of individuals have not created an account so that they can save for emergency expenses.
Furthermore, 69 percent have not set up automatic transfers from a checking to a savings account.
And without automated savings, many individuals have a hard time achieving their financial goals.
With automated savings, the money is set aside before you even see it. If instead you plan to move the money on your own, you may be tempted to spend it now instead of set it aside.
“People know that they should be doing better,” said Andrew DePietro, lead researcher at GOBankingRates. “It’s the second part — putting it into action — that’s so hard.”