In December 2024, the personal saving rate in the United States amounted to 3.8 percent. That was slightly lower figure than a year earlier. The personal saving 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.

Graph and download economic data for Personal saving as a percentage of disposable personal income (A072RC1Q156SBEA) from Q1 1947 to Q4 2024 about disposable, savings, personal income, percent, personal, income, GDP, and USA.

Personal savings in the United States reached a value of 911 billion U.S. dollars in 2023, which is significantly higher than in 2022. 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 crisisDuring 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 inflationThe 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.

Key information about China Gross Savings Rate

• China Gross Savings Rate was measured at 44.3% in Dec 2023, compared with 44.3% in the previous year.
• China Gross Savings Rate is updated yearly, with data available from Dec 1952 to Dec 2023, and an average rate of 44.3%.
• The data reached an all-time high of 44.3% in Dec 2010 and a record low of 16.5% in Dec 1962.
• CEIC calculates Gross Domestic Savings Rate from annual Gross Domestic Savings and annual Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. The National Bureau of Statistics provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, China GDP expanded 4.5% YoY in Mar 2023.
• China Nominal GDP reached 4,166,759.1 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 0.4% in Mar 2023.
• China GDP Per Capita reached 12,621.7 USD in Dec 2023.

In 2019, the household savings rates in these selected developed countries ranged from 0.4 percent of disposable income in Finland to 17.9 percent in Switzerland. In 2020, the coronavirus (COVID-19) outbreak and lockdowns implemented by governments led to an increase in the savings rate worldwide, due to reduced consumption expenditure.

Why do people save?

Savings behavior differs from country, as shown in this statistic. In the United States, most people save for unexpected expenses or retirement. In countries such as Finland, the savings rate may be lower because retirees can rely on generous pension funds. Other reasons that households save include vacation, educational expenses, and home purchase.

Factors that affect saving

High inflation leads to lower household savings. The projected increase in prices means that people would rather buy immediately, because saving and buying later means paying a higher price. As such, countries with an inflation rate are less likely to have a high savings rate. Other factors include a cultural disposition towards saving mechanisms, such as the emphasis on home ownership seen in the United States.

Australia Household Income: Trend: Final Consumption Expenditure data was reported at 264,253.000 AUD mn in Mar 2019. This records an increase from the previous number of 262,528.000 AUD mn for Dec 2018. Australia Household Income: Trend: Final Consumption Expenditure data is updated quarterly, averaging 52,105.000 AUD mn from Sep 1959 (Median) to Mar 2019, with 239 observations. The data reached an all-time high of 264,253.000 AUD mn in Mar 2019 and a record low of 2,311.000 AUD mn in Sep 1959. Australia Household Income: Trend: Final Consumption Expenditure data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.A288: SNA08: Household Saving Ratio and Household Income: Trend.

In September 2024, the disposable personal income in the United States increased by 0.3 percent from the previous month. The data are in current U.S. dollars, seasonally adjusted at annual rates. Disposable personal income in the United States According to the BEA, personal income is the income that is received by persons from all sources. It is calculated as the sum of wage and salary disbursements, supplements to wages and salaries, proprietors' income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal dividend income, personal interest income, and personal current transfer receipts, minus contributions for government social insurance. In simple terms, disposable personal income is the total remaining income after taxes paid; it is the income available to persons for spending or saving. It is useful to economists because it measures the amount of money available for spending in a specific area. Disposable personal income is a significant indicator of an economy’s health. Personal income determines an individual’s ability to consume goods and services, i.e. personal consumption expenditure, and industries producing consumer goods and services contribute heavily to United States gross domestic product. The retail trade industry, for example, contributed 1.38 trillion chained U.S. dollars to the GDP of the United States in 2021. Total real GDP amounted to about 22.99 trillion U.S. dollars that year. The arts, entertainment, recreation, accommodation and food services industry contributed 839.6 billion U.S. dollars to the GDP in 2021. Personal income in the United States was 21.06 trillion U.S. dollars in 2021, the highest value in over ten years.

Graph and download economic data for Total Expense for Savings Institutions, Establishments Subject to Federal Income Tax, Employer Firms (DISCONTINUED) (EXPEF52212TAXABL) from 2009 to 2011 about thrifts, employer firms, accounting, establishments, tax, expenditures, services, depository institutions, and USA.

Graph and download economic data for Household Debt Service Payments as a Percent of Disposable Personal Income (TDSP) from Q1 1980 to Q4 2024 about disposable, payments, debt, personal income, percent, personal, households, services, income, and USA.

In the year 2017-18, around 84 percent of the expenditure for Indians from Sikh communities came from income or savings. Similarly, around 81 percent of the expenditure for Indians from Hindu communities came from income or savings during the same time period.

Households where the major income earner was from 35 to 44 years old had the highest amount of net savings in 2023. That segment saved on average nearly 22,500 Canadian dollars that year alone. Households of individuals older than 64 had negative net savings amounting to 13,760 Canadian dollars, which means that their expenses were higher than their revenue. These figures do not show the overall value of savings accumulated in bank accounts and other assets, but the amount of money that households managed to save in a single year.

Postal Savings Bank Of China reported CNY55.15B in Interest Expense on Debt for its fiscal quarter ending in September of 2023. Data for Postal Savings Bank of China | 601658 - Interest Expense On Debt including historical, tables and charts were last updated by Trading Economics this last March in 2025.

The Draft Budget 2025 Explorer provides insight into how the budget is created, what elements make up the budget, user-friendly interactive charts, graphs and tables to enhance financial literacy and transparency, an update on service reviews as well as highlights from over 100 lines of services that are advancing Council’s strategic priorities. The draft budget is broken down by Committee, department and service areas as described in the Table of City Services and Standing Committee reporting structure. With direction from Council, the budget is drafted and tabled for review by each Standing Committee and adopted by Council. Aside from the draft budget considered by Committees, there are four external boards who debate their budget separately. These budgets are represented in the overviews but are not broken down by committee or included in the rates, fees and charges reports. For more information on these budgets please visit the agenda for the budget tabling meeting. • Committee of Adjustment • Ottawa Police Services • Ottawa Public Health • Ottawa Public Library For complete details on the budget visit the Budget, finance and corporate planning page.Date Created: November 19th, 2024Update Frequency: As required.Accuracy, Completeness, and Known Issues: If at any point in time the figures found in this tool differ from the draft budget books or presentations at Committee, the draft budget books will be considered the accurate data.Attributes: 1_Operating_overview_expenditure1_Operating_overview_revenueAll City programs and services are funded through the City’s operating budget, which supports the dependable delivery of services that residents rely on every day.2_Capital_program_by_committee2_Capital_program_by_funding_src2_Capital_program_by_service_categoryCity infrastructure and assets are funded through the capital budget. Most of that funding goes to maintaining and fixing existing infrastructure as described in the Comprehensive Asset Management analysis. As funding allows, the City continues to fund growth, build new infrastructure and invest in the future. 3_Reserve_fund_DiscretionaryreservesReserve funds are monies set aside to fund capital expenditures, similar to having personal savings accounts for future needs. They are also used to manage unexpected expenses and to support the City’s finances for the long-term.4_Rates_fees_and_chargesRates are utility charges dependant on usage for water consumption and sewer surcharges that are found on residents' water bills. Fees are charged to users of many City services to cover part or all of the costs of providing the service. Examples of where fees are applied include transit fares, recreation program fees, planning applications and childcare fees. Development charges are one-time fees levied by municipalities on new residential and non-residential properties to help pay for a portion of the growth-related capital infrastructure requirements.5_Exp_brkd_by_committee_OPERATING5_Exp_brkd_by_committee_CAPITALThe draft budget is broken down by Committee, department and service areas as described in the Table of City Services and Standing Committee reporting structure. Each Committee is responsible for a specific portion of the operating and capital budget. Each Committee hears from Community delegations and debates the items assigned to them. Councillors can ask for amendments to each section of the budget and then all sections of the budget are brought back to Council for final a vote on adoption.6_ How_the_city_of_ottawa_compares?See how the City’s taxation compares to other major Canadian cities from 2012-2024.Data Steward: Suzanne Schnob – Financial Services ManagerData Steward Email: fcsdposting@ottawa.caDepartment or Agency: Finance and Corporate Services DepartmentBranch/Unit: Financial Strategies, Planning and Client Services

Key information about Turkey Gross Savings Rate

• Turkey Gross Savings Rate was measured at 23.9% in Dec 2024, compared with 23.9% in the previous quarter.
• Turkey Gross Savings Rate is updated quarterly, with data available from Mar 1998 to Dec 2024, and an average rate of 23.9%.
• The data reached an all-time high of 23.9% in Sep 2018 and a record low of 14.8% in Mar 2000.
• CEIC calculates Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. Final Consumption Expenditure is calculated as the sum of Household, NPISHs and Government Consumption Expenditure. Turkish Statistical Institute provides Final Consumption Expenditure in local currency and Nominal GDP in local currency.
• In the latest reports, Turkey GDP expanded 4.0% YoY in Mar 2023.
• Turkey Nominal GDP reached 245,496.5 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 77.3% in Mar 2023.
• Turkey GDP Per Capita reached 15,463.4 USD in Dec 2024.

Key information about Sri Lanka Gross Savings Rate

• Sri Lanka Gross Savings Rate was measured at 26.1% in Sep 2022, compared with 26.1% in the previous quarter.
• Sri Lanka Gross Savings Rate is updated quarterly, with data available from Mar 2010 to Sep 2022, and an average rate of 26.1%.
• The data reached an all-time high of 26.1% in Dec 2017 and a record low of 13.9% in Mar 2010.
• CEIC calculates quarterly Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. The Department of Census and Statistics provides Final Consumption Expenditure in local currency and Nominal GDP in local currency. Gross Domestic Savings Rate prior to Q1 2015 is based on SNA 2008, at 2010 prices.
• In the latest reports, Sri Lanka GDP contracted 11.8% YoY in Sep 2022.
• Sri Lanka Nominal GDP reached 17,949.0 USD mn in Sep 2022. Its GDP deflator (implicit price deflator) increased 64.7% in Sep 2022.
• Sri Lanka GDP Per Capita reached 3,815.0 USD in Dec 2021.

Tables and data underlying all chapters and appendices included in 2016-17 Budget Paper Number 3 - Economic and Fiscal Outlook. Includes data from chapters as follows: Chapter 1: Overview Chapter 2: …Show full descriptionTables and data underlying all chapters and appendices included in 2016-17 Budget Paper Number 3 - Economic and Fiscal Outlook. Includes data from chapters as follows: Chapter 1: Overview Chapter 2: Economic Outlook Chapter 3: Fiscal Outlook and Strategy Chapter 4: General Government Revenue Chapter 5: General Government Expenses Chapter 6: Asset Investment Chapter 7: Royalties for Regions Appendix 1: Detailed Financial Projections Appendix 2: General Government Operating Revenue Appendix 3: 2015-16 General Government Operating Revenue Appendix 4: The Treasurer's Advance Appendix 5: Special Purpose Accounts Appendix 6: State Government Social Concessions Expenditure Statement Appendix 7: Asset Investment Program - Summary of Expenditure and Source of Funds Appendix 8: Public Corporations - Impact on General Government Revenue and Expenses Appendix 9: Tariffs, Fees and Charges Appendix 10: Tax and Royalty Expenditure Statement Appendix 11: Allocation of Asset Investment Program Efficiency Savings Appendix 12: Western Australia's Net Contribution to the Federation Appendix 13: National Partnership Agreements

Survey of Household Spending (SHS), average household spending, Canada, regions and provinces.

Key information about Philippines Gross Savings Rate

• Philippines Gross Savings Rate was measured at 10.8% in Dec 2022, compared with 10.8% in the previous quarter.
• Philippines Gross Savings Rate is updated quarterly, with data available from Mar 1981 to Dec 2022, and an average rate of 10.8%.
• The data reached an all-time high of 10.8% in Mar 1981 and a record low of 5.9% in Sep 2021.
• CEIC calculates Gross Domestic Savings Rate from quarterly Gross Domestic Savings and quarterly Nominal GDP. Gross Domestic Savings is calculated as Nominal GDP less Final Consumption Expenditure. Final Consumption Expenditure is the sum of Private and Government Consumption Expenditure. Philippine Statistics Authority provides Final Consumption Expenditure in local currency and Nominal GDP in local currency. Final Consumption Expenditure is calculated as the sum of Household and Government Final Consumption Expenditure.
• In the latest reports, Philippines GDP expanded 7.1% YoY in Dec 2022.
• Philippines Nominal GDP reached 112,422.2 USD mn in Dec 2022. Its GDP deflator (implicit price deflator) increased 6.3% in Dec 2022.
• Philippines GDP Per Capita reached 3,623.5 USD in Dec 2022.

In 2023, the average expenditures in a household led by a Millennial in the United States came to 81,589 U.S. dollars per year. The only generation with higher expenditures were households led by someone from Generation X with around 95,692 U.S. dollars per year.

In 2024, approximately half of consumers in the United States expecting a tax return refund intended to save that money. Around 30 percent of respondents planned to either pay down debt or use the money for everyday expenses.