According to a study conducted my Moody’s Analytics, people under the age of 35 can’t seem to save. Adults between thirty-five and forty-four are in better shape compared to their younger counterparts. Their savings, on average, actually have increased by about 3%. Still, most US residents have little to no savings.

There are a couple of institutions that are trying to change things. They will be rewarding certain account holders with prizes simply for saving their money. A federal legislation that was passed in 2014 will legalize the practice for both credit unions and large bank institutions in any state to award prizes. A co-sponsor of the bill, Representative Derek Kilmer, stated it doesn’t matter if there was a job someone had lost or there was a medical emergency, having a savings account is an important cushion everyone should have. The bill flew through both the Democratic and Republic…