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Banking & Finance

SunTrust Survey Shows Weak Savings Habits

By Jenny Callison, posted Apr 24, 2015
Infographic C/O SUNTRUST

It’s not just households hovering near the poverty range that live paycheck to paycheck, according to a survey released this month by SunTrust Bank.

The SunTrust/Harris Poll survey of people in households with annual incomes of more than $75,000 annually survey found that even some of these households live from one paycheck to another and that many people feel they are not saving as much as they should. Nearly 45 percent agreed that spending on lifestyle purchases, causes them to save less than they should, the bank announced in a news release.

To help people get on financial track, SunTrust recently announced an initiative called Live for a Sunny Day that provides tools and expert advice to help people focus on goals – or “sunny days” – and save for those, instead of just saving for the rainy ones.

“It’s easier to stay motivated when you’re saving for goals that are connected to your values and bring you happiness,” Brad Dinsmore, consumer banking and private wealth management executive at SunTrust Bank, said in the release.
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