Families in Durham say they're barely getting by; New report says Americans are saving less

DURHAM, N.C. (WTVD) -- With the price of gas, groceries and housing continuing to climb, many who live in Durham say there's not much left over to put away at the end of the month.

Samuel Fisher was filling up his daughter's car at a Durham gas station when he admitted he's had to get creative to stretch his budget. "We haven't saved. We're not rich," he said. "We were saving a few hundred dollars here and there."

Fisher said he's now driving his daughter's smaller car while she's on vacation because it's cheaper to fill up than his SUV. "It costs me 90 dollars to fill up," he said with a laugh. "She's not here, so I'm going to drive her car. Save some money."

For others, cutting back has become a daily routine. Anne McConville said everything she was wearing came from a thrift store. "Black jumpsuit, black top and this necklace that was only three dollars," she said. "It's beautiful."

McConville said shopping secondhand helps her afford the basics. "Every time I go shopping, I spend 100 dollars. For me. I just buy produce."

A new federal report shows Americans are saving less overall. The U.S. personal savings rate fell to 2.6 percent in April, a sign that rising costs for essentials are squeezing household budgets.

Arkell Barnes, a Triangle-based financial advisor for the past 30 years, said even small amounts of savings matter. "I always recommend people put something away no matter what. Pay yourself first," he said.

Barnes said finding small ways to cut costs can help families build a cushion. "Refinancing, taking meals to work instead of going out, watching your subscriptions," he said.

It's advice 79-year-old Jerry McClain is already following. Pushing a cart of groceries to his car, he said he's scaled back his spending. "I'm older, so I don't do as much," McClain said. "I don't go out as much. I don't eat out as much."

Barnes said more people are also picking up side jobs to bring in extra income. It's something he believes could help boost savings in the long run.