CLARKONOMICS: Executive producer Christa still remembers how dejected Clark was when Americans first started spending more than they made during the early 2000s.

Well, finally, we're seeing a reversal of that longstanding trend. In May, the average American saved 7 cents of every dollar earned. Heartening news, but still not enough for the long term. Americans typically saved a dime on a dollar before the early 1990s.

The May numbers may be something of a false positive. After all, withholding was recently adjusted and people had more in their paychecks.

But in general, the saving rate has been trending upward for months, which is good news.

Yet some people in Washington and on Wall Street are scared of our newfound zest for savings. Why? Historically, consumers accounted for close to 70% of economic activity. That means it will take longer for the economy to grow if we stop spending like chumps.

Be that as it may, the long term gains of developing a savings habit will put us all in better stead for the future. It all comes down to accountability. You must hold yourself accountable and do what you need to live on less than what you make.

How much can you save?