Perhaps it should come as no surprise, but very few New Year’s resolutions make it past the month of January. And the "I want to save more money" resolution is certainly no exception.

Recently a gentleman from Florida was sharing with me his great concern that people in our country have literally stopped saving money. “I cannot believe that we aren’t holding a national summit to talk about this,” he said. I wish more people shared his sense of urgency.

The after-tax savings rate in the United States now stands at 0.4 percent. Less than 15 years ago, our savings rate hovered around 10 percent. Contrast that with Europe, where annually they save more than 10 percent of their disposable income.

Why the huge gap? Our love affair with consumption. And we have the credit card debt (some $9,000 per household) to prove it.

Let’s take the U.S. vs. European savings example a few steps further. If you had $40,000 a year of after tax income, and saved 0.4 percent (the U.S. average), that would equal $160 a year or roughly $13 a month. In Europe (assuming a 10 percent savings rate), it would equal $4,000 a year or roughly $333 a month.

If the money were invested at 8 percent, tax deferred, for 30 years, here are the totals:

U.S. = $19,575.00 Europe = $489,000.00

Fortunately there are no savings Olympics; the U.S. wouldn’t be winning any medals. Not one. At this rate (no pun intended), we may not even be able to field a team.

Let’s face it – saving money isn’t sexy. Buying a new MP3 player is always more fun. So here’s my solution to help you gain some saving momentum.

This year I want you to make one financial resolution that everyone in the family can rally around. Not two or three, just one.

Have every member of the family who can, state and then write down a realistic savings goal for 2005. Then, post them on the refrigerator for everyone in the family to see and chart everybody’s progress. Why the refrigerator? -- Accountability!

For the kids, you will want age relevant goals. Younger ones (under age 7) may need to set smaller, more attainable goals while the older ones can focus on a longer time frame.

Some examples for the kids include: educational computer game, books, college, summer camp, and a bicycle.

For the parents: college fund, retirement, car, a down payment for a home, and vacation.

What are the learning opportunities for your family if everyone sets a savings goal?

Make a list when you set your initial goals and then review it periodically throughout the year. My hunch is that everyone in the family will learn from each other. And don’t forget to celebrate when someone reaches their goal.

This question is designed to build on the Share-Save-Spend tip for the week and can be used as a springboard for additional conversations with family and friends.

Spending by youngsters aged 12 to 19 is expected to hit $169 billion this year, up from $122 billion just seven years ago, according to Michael Wood, vice president of Teenage Research Unlimited, a market-research firm based in Northbrook, Ill.

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