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

Household Saving Rate in the United States decreased to 4.50 percent in May from 4.90 percent in April of 2025. This dataset provides - United States Personal Savings Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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 from Q1 1947 to Q1 2025 about disposable, savings, personal income, percent, personal, income, GDP, and USA.

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 Q1 2025 about savings, personal, GDP, and USA.

Graph and download economic data for Personal Saving (PMSAVE) from Jan 1959 to May 2025 about savings, personal, and USA.

Key information about US Gross Savings Rate

• US Gross Savings Rate was measured at 17.8% in Dec 2022, compared with 17.8% in the previous quarter.
• US Gross Savings Rate is updated quarterly, with data available from Mar 1947 to Dec 2022, and an average rate of 17.8%.
• The data reached an all-time high of 17.8% in Mar 1965 and a record low of 13.3% in Sep 2009.
• The Bureau of Economic Analysis provides quarterly Gross National Savings Rate.
• In the latest reports, US GDP expanded 0.9% YoY in Dec 2022.
• US Nominal GDP reached 6,534,498.0 USD mn in Dec 2022. Its GDP deflator (implicit price deflator) increased 6.4% in Dec 2022.
• US GDP Per Capita reached 59,484.0 USD in Dec 2017.

In 2022, approximately 59 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 (60.2 percent), whereas Hispanic or Latino households were the least likely to save (40.3 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.

Graph and download economic data for Gross saving as a percentage of gross national income (W206RC1Q156SBEA) from Q1 1947 to Q1 2025 about national income, GNI, savings, gross, percent, income, GDP, and USA.

Graph and download economic data for Household saving (W398RC1A027NBEA) from 1992 to 2023 about savings, households, GDP, and USA.

Graph and download economic data for Ratio of Personal Saving to Disposable Personal Income for United States (Q1074BUSQ163SNBR) from Q1 1946 to Q2 1967 about disposable, savings, ratio, personal income, personal, income, and USA.

In 2022, 56 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, 80 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 22 percent of black people said that their savings were on track.

The overall value of household savings in the United States decreased a lot in 2023, after it reached values of well over two trillion U.S. dollars in 2020 and 2021. Household savings peaked in 2020, when they amounted to 2.7 trillion U.S. dollars, which was a very strong increase compared to the previous year. The personal savings as a share of disposable income in the U.S. also peaked in 2020 and 2021.

Financial overview and grant giving statistics of American Savings Foundation

Graph and download economic data for National Rate: Savings (SNDR) from Apr 2021 to Jun 2025 about savings, deposits, rate, and USA.

Graph and download economic data for Net saving as a percentage of gross national income (W207RC1Q156SBEA) from Q1 1947 to Q1 2025 about national income, GNI, savings, gross, Net, percent, income, GDP, and USA.

Nearly half of people in the United States had 1,000 U.S. dollars or less in their saving accounts. Meanwhile, 14 percent of respondents had at least 20,000 U.S. dollars in their savings accounts, and 22 percent with amounts between 1,001 and 5,000 U.S. dollars.