personal savings

Consumer spending and personal incomes were both unchanged in June after rising 0.1% and 0.3%, respectively, in May, the Commerce Department said today. Economists surveyed by Bloomberg forecast a median 0.1% gain in spending and a 0.2% advance in incomes.

As the personal savings rate in the US has grown to 4.4% and continues to rise, Charles Schwab, TD Ameritrade and ING Direct are trying to entice investors to save a portion of that growing asset base with them.