Alicia Tolliver always thought she was smart with her money.
"You would think once you get your paycheck and paid your bills if you have something extra you can spend it,” says Alicia Tolliver. “Well, that got me in a lot of trouble."
When she lost her job during the recession, her savings quickly ran out.
"It was hard because I didn't know what to do,” says Tolliver.
A new survey from America Saves finds many people like Tolliver.
Most Americans, 68 percent, say they make more money than they spend. But they're not saving enough for a rainy day.
"They’re not really well prepared for the long term,” says Steve Brobeck, executive director at Consumer Federation of America
Brobeck says people should try to save 10 percent of their pay.
"First of all build up an adequate emergency fund and then start saving for retirement,” says Brobeck.
Tolliver was able to turn her situation around. She got a job and was able to save enough money to start her own business selling candles and bath products.
She's now saving as much as she can to make sure she's prepared for the future.
The up and down economy has made it difficult for people to save enough for retirement.
Only one out of three Americans believe they are prepared for their long term financial future.
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