Americans having trouble saving - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

Eau Claire (WQOW)- Recent studies have shown more and more Americans are finding it hard to save money.

A study by Bankrate.com shows that 28 percent of Americans have not saved a single penny.

Rosey Gravrok, from Eau Claire, understands the need to save money, which is why she sets money aside.

"Saving money is definitely an important thing, especially with our economy right now," added Gravrok.

Not all Americans are taking this approach. A recent study showed that more than one-quarter of Americans haven't saved a penny.

"It is so critical and important to have that basket because if you don't when you do lose a job or when something catastrophic comes up... all of a sudden you're going into your long-term retirement investments to fit that need to get those dollars," said Andrew Schlafer, Edward Jones financial advisor.

Financial advisors suggest focusing on immediate needs first then building up a savings that would cover six to twelve months of living expenses.