A Third of Amercians Spent Down Savings in 2013

As the economy continues to struggle and unemployment remains high, many people are dipping into savings to make ends meet. A new 2500-participant survey asked Americans about their spending in relation to savings from the past year, with the finding that nearly 35 percent had had to dip into savings at some point.

A total of 4 percent of respondents spent down retirement savings only, 20 percent spent personal savings, and 11 percent spent portions of both. This is a worrying trend, but remains an improvement over 2010 according to Census and Federal Reserve data, one in four Americans withdrew savings from retirement accounts to finance current spending.

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