It has been said time and again that we need to spend less than we earn. It has also been said that we should only spend after we have said aside our savings.

Unfortunately, for Americans, this is easier said than done. The American population has continuously struggled when it comes to saving. Here are some of sad facts about America's savings.

1.       Only 49% are following the at-least 5% saving rule.

Recommendations from saving experts state that savings should be between 10% to 15% of the income. However, over half of the Americans cannot even save 5% of their income.

2.      44% does not save any part of their income.

This means that about one-third of the entire American population do not have any savings at all. This fact is a bit frightening, especially in emergency cases.

3.      37% do not have enough money to cover for an emergency.

Only sixty-three percent of the population have set aside money in case of emergency. The remaining 37% may need to turn to bank loans in cases of emergency.

4.      Women are behind in being financial stability

Men are reported to be spending less as compared to women. Only 60% of women reported the same habit. The difference can be attributed to the persistent wage gap. "The fact that men have larger incomes and financial assets than women makes it easier for them to save," Stephen Brobeck, executive director of CFA and a founder of America Saves, said in a press release.

5.       Fewer people are saving enough to retire comfortably.

Not everyone on the country is saving for a comfortable retirement. From 55% in 2015, the people who are saving for their retirement is only 52%.

These statistic is based on a survey conducted by Consumer Federation of America and the American Savings Education Council. The survey is part of the America Saves Week. 1,400 individuals took part in the recent survey.

America Saves is a national campaign that involves at least 1,000 nonprofit, government, and corporate groups that are encouraging individuals and families to "save money and build personal wealth."