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Savings Is At Its Lowest Level Since Financial Crisis

CafeCredit.com/Flickr

Americans are spending more than they are saving, with savings falling to their lowest level in nine years.

According to CNBC, Americans are spending more than they are saving, with savings falling to their lowest level in nine years.

With spending outpacing income, savings fell to $426.2 billion in November, the lowest level since August 2008, from $466.9 billion in the prior month. The saving rate dropped to 2.9 percent, the lowest since November 2007, from 3.2 percent in October.