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When it comes to their personal finances, far too many Utahns are living on the edge.
Results of a recent study undertaken by United Way of Salt Lake suggests Utahns, generally, are astute about financial awareness and they understand the importance of saving. Yet, far too many live paycheck to paycheck, while failing to save for the inevitable "rainy day."
The study reflects what's happening nationally.
The nation's personal savings rate is at its lowest level since the Great Depression. It's been in negative territory now for more than a year. In short, Americans spend more than they earn.
It's a trend that must be reversed.
It is why KSL welcomes and endorses United Way's Utah Saves initiative. The idea is to help Utahns learn how to build assets, reduce debt, and create long-term financial security.
To generate more widespread awareness of the successful program, United Way this week is sponsoring Utah Saves Week. You can learn more about it at www.utahsaves.org.
Since its inception a couple of years back, Utah Saves has helped scores of Utahns get a handle on their personal finances. KSL strongly supports the effort and encourages even more residents to take advantage of the program to become Utah Savers.