Overspending to blame for missed savings goals


Bad habits are hard to kick and new data from an informal poll of 700 readers at Get Rich Slowly and Money-Rates has revealed that "poor spending habits" are to blame for a majority of individuals missing their savings goals in 2009, not the recession.

"It's a little disturbing that even in tough economic times, so many people were unable to rein in spending," MoneyRates.com spokesman Richard Barrington said in a press release. I have to agree with him, even if I fall into the majority myself.