The article visualizes the percentage of respondents who have money leftover at the end of the month based on their age and education qualifications, using data from a National Endowment for Financial Education (NEFE) report.
Here are the key takeaways from the article:
1. Age and Savings:
- Older Americans Save More: As respondents get older, a higher percentage of them are able to save money.
- Those aged 60 and older are the most likely to have money left over at the end of the month (49% always/often), due to peak career earnings, investments, and having paid off major expenses like mortgages or raising families.
2. Education and Savings:
- Higher Education Correlates with More Savings: Those with a bachelor's degree or higher are three times more likely to have leftover money than those without a high school diploma.
- As education levels increase, so do earnings, and higher education levels are linked with improved ability to save money.
3. Survey Data:
- The survey was conducted from January 12-14, 2024, with 1,222 adults aged 18 and over, and aimed to be representative of the U.S. population.
- The results highlight the significant impact of age and education qualifications on individuals' ability to save money at the end of the month.
These findings demonstrate the importance of both age and education in determining financial stability and the ability to save. Older individuals and those with higher education levels tend to have greater financial security and savings, reflecting the positive impact of career experience and educational attainment on financial outcomes.
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