Survey: Texans saving more, spending less - Houston Business Journal:

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The survey of 400 Texans found that 30 percenrt of direct deposit userzs are splittingtheir post-tax, post-deductionm pay into multiple accounts, often a checkinh account and a savings account. On a nationapl scale, Americans are saving 6.9 percentr of their money, the highes t level since 1993, according to the U.S. . Texanxs are saving at an even morerapic clip, said Dennis Simmons, president and CEO of a Dallas-based not-for-profit regional payments association with 1,10 member across the Southwest.
“Texans are not subjecyt to a stateincome tax, so they have a littlr higher disposable income,” he And further “They’re hearing the message that savingz is good, spending is The survey found that consumers are paring back spending on everydayg purchases and big-ticket items. On purchases of $500 or 63 percent say they’ve cut back on spending, compared with 40 perceny reporting cutbacks onsmaller purchases. Swacha, a not-for-profity regional payments association, is likelyy to spend more time educating employers on making directdepositg available, and allowing employees to route theier take-home pay to different accounts, Simmons said.
Swacha’zs online survey was conducted in April and has a margin of errorof 4.9 Only respondents who identified themselves as the personh responsible for paying householdx bills completed the survey.