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How much do Americans save?

September 23rd, 2010 at 01:13 pm

According to this interesting but large chart, the average American household saves only $2400 a year, or $200 a month. Also, only 41% save regularly. Wow.

5 Responses to “How much do Americans save?”

  1. Ima saver Says:

    That is pretty bad!!

  2. Analise Says:

    It's a very interesting chart. I remember reading years ago that American savings habits lagged behind that of many industrial nations. One exception now is Japan, where savings rates have declined drastically in recent years.

  3. dmontngrey Says:

    Wow, I'm glad I'm currently outpacing the average. Sad that my mother falls in the majority though. Most people I know fall in the majority.

  4. baselle Says:

    It is bad, but a few years ago it was even worse, so 2% to 6% is headed in the right direction. To think that even when I in college in the early 80s, the savings rate was 10%. Of course the interest rates on CDs were fantastic then too. Who wouldn't want to save into vehicles making 10 - 15% interest?

  5. Jerry Says:

    I am living overseas right now, and I see that the norm in this part of the world is also not to save... but rather, to work until retirement, and then get ANOTHER job strictly to pay for all the things your kids and grandkids want, but can't afford to buy for themselves. It really works like that over here, and it leads to ridiculously rampant entitlement issues. People here have asked my parents (who are visiting) how they afford to support all of their seven children, and when they say "We don't... they are grown ups with their own jobs and families!" people are literally astonished. Savings is insurance for the future, but it's a policy that most people aren't buying.
    Jerry

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