Graph and download economic data for Personal Saving Rate (PSAVERT) from Jan 1959 to Jun 2025 about savings, personal, rate, and USA.

Household Saving Rate in the United States remained unchanged at 4.50 percent in June from 4.50 percent in May of 2025. This dataset provides - United States Personal Savings Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In June 2025, the personal savings rate in the United States amounted to 4.5 percent. That was a slightly lower figure than a year earlier. The personal savings rate is calculated as the ratio of personal savings to disposable personal income. Within the topic of personal savings in the U.S., there are different goals and reasons for saving. What are personal savings? Saving refers to strategies of accumulating capital for future use by either not spending a part of one’s income or cutting down on certain costs. Saved money may be preserved as cash, put on a deposit account, or invested in various financial instruments. Investing usually incorporates some level of risk which means that part of the invested money can be gone. An example of a relatively safe investment would be saving bonds, such as the debt securities issued by the U.S. Department of the Treasury. Saving trends in the U.S. and abroad Looking at the personal saving rate in the United States throughout the past decades, it can be observed that savings had been decreasing until the mid-2000s, and they increased after the 2008 financial crisis. Still, the largest savings rates were reached in 2020 and 2021. The reason for that increase in the savings rate that year might be related to the measures to contain the COVID-19 pandemic. The value of personal savings in the United Kingdom has also followed a similar trend. Although events like the COVID-19 pandemic may have affect many countries in a similar way, the ability to save, as well as the average savings as a share of personal income across countries can vary significantly depending on multiple factors affecting each territory.

In the 1st quarter of 2025, personal savings amounted to 3.97 percent of the disposable income in the United States. The personal savings rate peaked in 2020, when U.S. households saved on average over 15 percent of their income. After that, it has remained between three and five percent. Savings during recessions During recessions, households often tend to increase their savings due to economic uncertainty and to compensate for any possible loss of income, which could occur, for example, in the case of falling into unemployment. For example, as seen in this statistic, the savings rate increased noticeably between 2007 and 2012, coinciding with a period of crisis. However, there are also factors that affect the amount of money that households can manage to set aside, such as inflation. Saving can be particularly difficult during periods when the inflation rate has been higher than the growth rates of wages. Savings accounts The value of savings deposits and other checkable deposits in the U.S. amounted to roughly 11 trillion U.S. dollars in early 2025, even after a significant fall in the amount of money placed in those types of instruments. In other words, savings accounts are a type of financial asset that is very widely used among households to save money. Nevertheless, interest rates of savings’ accounts differ a lot from one financial institution to another. Some of the lesser-known online banks had the highest interest rates, while the major banks often offered lower interest rates.

Personal savings in the United States reached a value of 975 billion U.S. dollars in 2024, marking a slight increase compared to 2023. Personal savings peaked in 2020 at nearly 2.7 trillion U.S. dollars. Those figures remained very high until 2021. The excess savings during the COVID-19 pandemic in the U.S. and other countries were the main reason for that increase, as the measures implemented to contain the spread of the virus had an impact on consumer spending. Saving before and after the 2008 financial crisis During the periods of growth and certain economic stability in the pre-2008 crisis period, there were falling savings rates. People were confident the good times would stay and felt comfortable borrowing money. Credit was easily accessible and widely available, which encouraged people to spend money. However, in times of austerity, people generally tend to their private savings due to a higher economic uncertainty. That was also the case in the wake of the 2008 financial crisis. Savings and inflation The economic climate of high inflation and rising Federal Reserve interest rates in the U.S. made it increasingly difficult to save money in 2022. Not only does inflation affect the ability of people to save, but reversely, consumer behavior also affects inflation. On the one hand, prices can increase when the production costs are higher. That can be the case, for example, when the price of West Texas Intermediate crude oil or other raw materials increases. On the other hand, when people have a lot of savings and the economy is strong, high levels of consumer demand can also increase the final price of products.

Graph and download economic data for Personal Saving (PSAVE) from Q1 1947 to Q2 2025 about savings, personal, GDP, and USA.

Graph and download economic data for Personal saving as a percentage of disposable personal income (A072RC1Q156SBEA) from Q1 1947 to Q2 2025 about disposable, savings, personal income, percent, personal, income, GDP, and USA.

The gross savings of the United States represented over 18 percent of its GDP in 2021. Despite some fluctuations, the savings rate was on a downward trend until 2009. In 2015, the gross savings rate reached its highest value since 1998. The value of gross savings as a share of the GDP has fallen in 2021.

In 2022, approximately 39 percent of children from eight to fourteen years old owned a savings account in the United States. One of the least popular financial instruments for children to own were cryptocurrencies and digital assets at around five percent. Meanwhile, 29 percent of children had piggy banks. When focusing on their parents, 401(k) plans were the most popular type of retirement savings accounts in the U.S.

Despite much work, economists have not been able to quantitatively account for the differences in the Japanese and U.S. saving rates after World War II. In this paper, we show that the use of actual Japanese total factor productivity growth rates in a standard growth model generates saving rates that are reasonably similar to the Japanese data between 1956 and 2000. (JEL E21, E22, O41, O47)

In 2022, approximately ** percent of all households in the United States saved money. However, the share of American families that manage to save varied significantly according to their ethnicity. White non-Hispanic households appeared to be the most likely to save (**** percent), whereas Hispanic or Latino households were the least likely to save (**** percent).

Colombia and Uruguay were some of the Latin American countries with the lowest savings rate in 2024. Meanwhile, gross savings in Chile amounted to slightly roughly ***** percent of its gross domestic product (GDP), while in the case of Brazil, it amounted to ***** percent. The countries with the highest gross savings to GDP ratio were Nicaragua, Ecuador, and the Dominican Republic.

The statistic shows the share of Americans aged between 50 and 64 with no retirement savings in 2010. The categories are divided into income quartiles ranging from 0 to 10,800 U.S. dollars in the bottom 25th percentile to more than 52,201 U.S. dollars in the 75-100th percentile. The percentage of Americans in the bottom 25th percentile was equal to 77 percent.

Saving for retirement

Without a shadow of a doubt, the recession has had an impact on retirement plans and how people save. It is clear to see just how alarming the situation is when one takes into account the sheer amount of Americans aged between 50 and 64 who have no retirement savings. And even for those who have saved and regularly paid into retirement savings the outlook is less than secure. Adding to the worry are the increasing claims being made by industry experts that the savings accrued by middle-class seniors will have nowhere near the required level of sufficiency to support current standards of living in to retirement.

It is important to start thinking and planning in order to be able to enjoy an early retirement. Those who start to save later for retirement, and forego early saving practices will realize that playing catch-up and saving much more intensively later in life is extremely punishing. Everyone wants different things in retirement and first of all it is important to decide what sort of retirement lifestyle is desirable for the individual. Knowing what the desired lifestyle is will help to determine how much money will need to be saved.

Graph and download economic data for Household Debt Service Payments as a Percent of Disposable Personal Income (TDSP) from Q1 1980 to Q1 2025 about disposable, payments, personal income, debt, percent, households, personal, income, services, and USA.

PSID data extract for computing per capita white-to-Black wealth gaps and active saving rates of Black and white Americans during 1984-2019.

India American Express Banking Corporation: Financial Ratio: Demand and Savings Bank Deposits-Total Deposits data was reported at 30.040 % in 2007. This records a decrease from the previous number of 38.780 % for 2006. India American Express Banking Corporation: Financial Ratio: Demand and Savings Bank Deposits-Total Deposits data is updated yearly, averaging 57.810 % from Mar 1999 (Median) to 2007, with 9 observations. The data reached an all-time high of 77.140 % in 2003 and a record low of 30.040 % in 2007. India American Express Banking Corporation: Financial Ratio: Demand and Savings Bank Deposits-Total Deposits data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Banking Sector – Table IN.KBR004: Foreign Banks: Selected Financial Ratios: American Express Banking Corporation.

******** and *************** offered some of the highest interest rates on savings accounts in the United States as of December 2024. Meanwhile, the savings accounts of most of the major banks, such as Goldman Sachs, American Express, or Barclays Bank, offered somewhat lower interest rates.

In 2022, ** percent of Hispanic respondents in the United States reported that they had some retirements savings, making them the group with the lowest rate. In contrast, ** percent of white people in the U.S. had any retirement savings, with a significant amount of them saying that their retirement savings were on track. Roughly ** percent of black people said that their savings were on track.

The statistic shows the average retirement account balances of Americans between 50 and 64 as of November 2010, by pension plan. On average, Americans from the bottom 25th percentile (0 - 10,800 U.S. dollars) had 281 U.S. dollars in a KEOGH pension plan, a tax deferred pension plan available to self-employed individuals or unincorporated businesses for retirement purposes. The same income group had, on average, 9,160 U.S. dollars in IRA (individual retirement account) pension plans. Additional info: Retirement saving It is never too early to start thinking about retirement. Plans and provisions for our twilight years often get put off as we deal with life’s more pressing demands, and with solid economic recovery still far from guaranteed, savings plans have been impacted. Despite this, those who wish to enjoy the golden years of their life should save early and save often. There are a number of saving strategies and a number of possibilities available for retirement saving, and this can seem quite daunting and difficult to figure out at first. The U.S. Department of Labor recommends determining net worth to be a good place to start i.e., the total value of assets minus the value of debts. Having ascertained this, and judging by your age, you can start planning how to get the most out of your retirement savings. You should contemplate where you want to be and how you’re going to get there. If you have age on your side, you can afford to be aggressive and put money into riskier funds. If your fund loses in value, you have time to let it grow. However, if you are getting close to retirement, more intensive and low-risk saving methods are recommended.

American Express Banking Corporation: Financial Ratio: Demand and Savings Bank Deposits-Total Deposits在2007达30.040 %，相较于2006的38.780 %有所下降。American Express Banking Corporation: Financial Ratio: Demand and Savings Bank Deposits-Total Deposits数据按每年更新，1999至2007期间平均值为57.810 %，共9份观测结果。该数据的历史最高值出现于2003，达77.140 %，而历史最低值则出现于2007，为30.040 %。CEIC提供的American Express Banking Corporation: Financial Ratio: Demand and Savings Bank Deposits-Total Deposits数据处于定期更新的状态，数据来源于Reserve Bank of India，数据归类于India Premium Database的Banking Sector – Table IN.KBR004: Foreign Banks: Selected Financial Ratios: American Express Banking Corporation。