If you find it painful saving money, you’re not alone. A recent survey says 72% of Americans were stressed about money last month.
In fact, according to the Federal Reserve, 60% of Americans between the ages of 18 to 40 saved absolutely nothing in 2013. Last year, adults under 35 had a savings rate of negative 2%.
So why is this happening? Is it that hard to go to a bank and open an automatic savings or a CD account?
“The bank experience has too much friction and inertia that people are just not saving,” Ethan Bloch, founder of the personal finance app Digit, tells Business Insider. Read more