How are we doing on savings?

Here’s what 1,000 or so of us told pollsters in a survey this month by America Saves and the American Savings Education Council:

73 percent spend less than they earn, and save the rest.

71 percent have emergency savings to cover car repairs or other unexpected bills.

57 percent said they were saving enough for retirement; in other words, 43 percent aren’t.

41 percent say they save some of their cash windfalls, like a tax refund.

About one in five says consumer debt is either growing or staying the same.

Sure, the findings show there’s room for improvement. But our savings don’t appear to be in dire shape, right?

Not so, the groups say. The results are worse than they sound. That’s because we tend to portray our finances in the most positive light possible.

“Hard data about savings behavior suggest that responses to several questions were buoyed by the personal optimism of respondents,” said Stephen Brobeck, executive director of the Consumer Federation of America and part of America Saves.

Looking at other research, the study's authors say there is a wide disparity in savings between high-income households — those with income of $75,000 and up — and those with low-incomes of under $35,000. No surprise there.

But the research does show the vulnerability of lower-income households now and in the future. Only 28 percent of low-income workers say they are adequately saving for retirement. And less than a quarter participate in retirement plan at work.

The study was released today, the first day of America Saves Week. The goal is to persuade organizations to encourage millions of Americans to review and improve their level of savings.