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Savings Locally Hit
$375,000 in Year
Residents of Rappahannock County seem to have their financial affairs under good control. As a whole, they are living well within their incomes, spending much less than they are earning.
Some of the surplus is being used by them to reduce their consumer debt. The remainder, or a considerable part of it, is being put into savings.
The evidence is seen in the rise in their bank deposits, in their savinp and loan accounts and in their purchases of U. S. savinp bonds.
During the past year, it is estimated, Rappahannock County families stashed away some $376,000 in liquid assets., , 1
As with people in other parts of the country, they have grown cautious. High prices, unemployment, strikes and other economic conditions have led them to postpone some of their big-ticket purchases and wait for a more favorable climate.
Meanwhile, they are accumulating a sizeable nest egg. This pool of purchasing power, when released, could spark a big buying surge.
The figures on savinp are based upon national flndinp reported by the Commerce Department and other agencies and upon income and sales data for each community.
They show, as would be expected, that the amount a family can save depends primarily on how much it has left after paying its bills for necessities.
Those with merely subsistence incomes were not able to save anything, of course. Those at the $5,000 after-tax level put aside
92.7%