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How much do Americans save?

September 23rd, 2010 at 08:13 pm

According to this

Text is interesting but large chart and Link is http://www.billshrink.com/blog/wp-content/themes/shrink/images/how-much-american-save-thumb.jpg
interesting but large chart, the average American household saves only $2400 a year, or $200 a month. Also, only 41% save regularly. Wow.

Posted in Personal Finance | 5 Comments »

5 Responses to “How much do Americans save?”

  1. Ima saver Says:
    September 23rd, 2010 at 09:13 pm 1285276402
    1285276402

    That is pretty bad!!

  2. Analise Says:
    September 23rd, 2010 at 09:51 pm 1285278677
    1285278677

    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
    Text is Japan, and Link is http://www.wisebread.com/comparing-savings-rates-us-vs-japan
    Japan, where savings rates have declined drastically in recent years.

  3. dmontngrey Says:
    September 24th, 2010 at 05:41 pm 1285350097
    1285350097

    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:
    September 24th, 2010 at 05:51 pm 1285350717
    1285350717

    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:
    September 24th, 2010 at 08:23 pm 1285359833
    1285359833

    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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