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2/25/2018

It's America Saves Week!

Personal

This graphic promotes America Saves Week, and smart savings strategies. It includes statistics from a recent CIT Bank and Harris Poll survey about American’s saving habits, and tips on ways to save. 82% of people who
        put aside money for savings use bank accounts. Millennials are less likely than Gen Xers and Boomers to save using retirement accounts. 44% of millennials, 54% of boomers and 68% of Gen Xers save into retirement accounts. Gen Xers and Boomers
        are more likely than Millennials to invest in stocks, bonds, real estate or businesses as a form of savings. 26% of Millennials, 36% of Gen Xers and 39% of Boomers invest their savings in stocks, bonds, real estate, or businesses. Also, Millennials
        use high-yield savings accounts (HYSAs) and Certificates of Deposit (CDs) at lower rates than Gen Xers and Boomers. Only 10% of Millennials, 15% of Gen Xers and 19% of Boomers use HYSAs or CDs. Some tips on ways to save are: making savings part
        of your routine by setting up automatic contributions to your savings accounts, involve your family in your budgeting and savings decisions to build an early, strong foundation for saving habits, create a rainy day fund with small, regular contributions
        to prepare yourself for the unexpected, save extra funds like your bonus or tax refund to give yourself a buffer for unexpected expenses. Check out one of CIT Bank’s online calculators at https://bankoncit.com/calculators/ to get a real-time look
        at your finances. This survey was conducted online within the United States by Harris Poll on Behalf of CIT between October 3-5, 2017 among 2,185 U.S adults ages 18 and older. This online survey is not based on a probability sample and therefore
        no estimate of theoretical sampling error can be calculated. Millennials are considered ages 18-36. Gen Xers are considered ages 37-51 and Boomers or older are considered 52+. CIT Bank, NA is FDIC insured. Each figure represents a percentage of
        the total surveyed in each generation rather than the total number of respondents, meaning the percentages together do not total 100%. CIT Bank, N.A. is the U.S. national bank subsidiary of CIT Group Inc. ©2018 CIT Group Inc. All rights reserved.
        CIT Bank and the CIT Bank logo are registered trademarks of CIT Group Inc.

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