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.

Household Saving Rate in the United States increased to 4.60 percent in January from 3.50 percent in December of 2024. This dataset provides - United States Personal Savings Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

In 2023, personal savings amounted to 4.51 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. That year and in 2021, there were measures implemented to contain the spread of the COVID-19 virus which limited the ability of people to go out and spend their money, which resulted in people saving more than usual.

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 late 2023, 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.

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.

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.

This dataset provides values for PERSONAL SAVINGS reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

The gross personal savings in the U.S. amounted to over 5.5 trillion U.S. dollars in 2023. These figures have increased steadily since 2015, reaching a peak in 2020, when the volume of savings increased a lot due to the start of the COVID-19 pandemic. After that, savings have decreased, particularly in 2022.

Graph and download economic data for Personal Sector; Total Time and Savings Deposits; Asset, Level (BOGZ1FL173030005A) from 1945 to 2024 about savings, sector, deposits, assets, and USA.

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.

United States PI: saar: Personal Savings as % of Disposable Personal Income data was reported at 3.300 % in Mar 2018. This records an increase from the previous number of 2.700 % for Dec 2017. United States PI: saar: Personal Savings as % of Disposable Personal Income data is updated quarterly, averaging 9.100 % from Mar 1947 (Median) to Mar 2018, with 285 observations. The data reached an all-time high of 15.000 % in Jun 1975 and a record low of 2.200 % in Sep 2005. United States PI: saar: Personal Savings as % of Disposable Personal Income data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s United States – Table US.A218: NIPA 2013: Personal Income and Disposition: saar: Quarterly.

United States Personal Savings data was reported at 276.201 USD bn in Oct 2003. This records an increase from the previous number of 243.464 USD bn for Sep 2003. United States Personal Savings data is updated monthly, averaging 179.705 USD bn from Jan 1959 (Median) to Oct 2003, with 538 observations. The data reached an all-time high of 510.298 USD bn in Dec 1992 and a record low of 20.064 USD bn in Apr 1960. United States Personal Savings data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A201: NIPA 1999: Personal Income and Disposition.

United States Personal Saving as Percentage of Disposable Personal Income: sa data was reported at 3.400 % in Sep 2003. This records an increase from the previous number of 3.200 % for Jun 2003. United States Personal Saving as Percentage of Disposable Personal Income: sa data is updated quarterly, averaging 8.200 % from Mar 1946 (Median) to Sep 2003, with 231 observations. The data reached an all-time high of 12.800 % in Mar 1946 and a record low of 0.800 % in Dec 2001. United States Personal Saving as Percentage of Disposable Personal Income: sa data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A204: NIPA 1999: Disposable Personal Income.

Graph and download economic data for Households and Nonprofit Organizations; Total Time and Savings Deposits; Asset, Transactions (HNOTSEA027N) from 1946 to 2024 about IMA, nonprofit organizations, savings, transactions, deposits, assets, households, and USA.

The average for 2022 based on 149 countries was 181.94 billion U.S. dollars. The highest value was in China: 8192.33 billion U.S. dollars and the lowest value was in Lebanon: -4.41 billion U.S. dollars. The indicator is available from 1960 to 2023. Below is a chart for all countries where data are available.

United States Personal Saving: sa data was reported at 283.700 USD bn in Sep 2003. This records an increase from the previous number of 259.700 USD bn for Jun 2003. United States Personal Saving: sa data is updated quarterly, averaging 116.000 USD bn from Mar 1946 (Median) to Sep 2003, with 231 observations. The data reached an all-time high of 429.600 USD bn in Dec 1992 and a record low of 5.000 USD bn in Jun 1947. United States Personal Saving: sa data remains active status in CEIC and is reported by Bureau of Economic Analysis. The data is categorized under Global Database’s USA – Table US.A201: NIPA 1999: Personal Income and Disposition.

Roughly 28 percent of Americans had household retirement savings reaching 250,000 U.S. dollars or more by the end of 2023. Meanwhile, eight percent of respondents stated to not have any household retirement savings at all. The share of people with retirement savings ranging from 100,000 to 250,000 U.S. dollars has decreased between 2020 and 2023.

In January 2025, the value of savings deposits, and other checkable deposits amounted to approximately 10.7 trillion U.S. dollars. Among the different types of deposits included in this data, savings deposits are the most popular. Until April 2020, the value of savings deposits in the United States amounted to nearly 11 trillion U.S. dollars by itself. After that, the source combined that data with that for other types of deposits.

Release Date: 2024-05-02.Release Schedule:.The data in this file come from the 2022 Annual Survey of School System Finances data files. For more information about the Annual Survey of School System Finances data, see About: Annual Survey of School System Finances...Key Table Information:.Revenue from and payments to other school systems are excluded to avoid double counting. Expenditures for adult education, community services, and other nonelementary-secondary programs are also excluded. Some data appear under local sources for Hawaii's state-operated school system for consistency with data presented for all other school systems. Data used to calculate rankings is from the U.S. Department of Commerce, Bureau of Economic Analysis; Revised State Personal Income Estimates...Disclaimer: This table uses Bureau of Economic Analysis personal income data to calculate state rankings. Differences between the state rankings estimates may be attributed to sampling or nonsampling error, rather than to differences in underlying economic conditions. Caution should be used in drawing conclusions from the rankings, estimates, and comparisons shown. Additional information on the survey methodology, including sampling error and nonsampling error, for the personal income data may be found at: https://www.bea.gov/data/income-saving/personal-income-by-state...See Appendix B in the state-level tables files for a description of state-specific reporting anomalies. ..Annual Survey of School System Finances statistics include the finances of charter schools whose charters are held directly by a government or a government agency. Charter schools whose charters are held by nongovernmental entities are deemed to be out of scope for the Annual Survey of School System Finances...Data Items and Other Identifying Records:.Total revenue per $1000 personal income.Total revenue from federal sources per $1000 personal income.Total revenue from state sources per $1000 personal income.Total revenue from local sources per $1000 personal income.Total current spending per $1000 personal income.Current spending per $1000 personal income - Instruction - Total.Current spending per $1000 personal income - Instruction - Salaries and wages.Current spending per $1000 personal income - Instruction - Employee benefits.Current spending per $1000 personal income - Support services - General administration.Current spending per $1000 personal income - Support services - School administration..For a complete list of Public Sector Survey data items and other identifying records, see Annual Public Sector Statistics API information webpage. For more detailed information, see Government Finance and Employment Classification Manual... .Geography Coverage:.The data are shown for education finance data include revenues, expenditures, debt, and assets of elementary and secondary public school systems..Statistics cover school systems in all states, and include the District of Columbia. For information about 2022 Annual Survey of School System Finances, see About: Annual Survey of School System Finances...Industry Coverage:.Not applicable...Footnotes:.Not applicable...FTP Download:.Download the entire table at: https://www2.census.gov/programs-surveys/school-finances/data/GS00SS09.zip..API Information:.For detailed description and more information for variables on the Public Sector API, see Public Sector: Annual and Census of Governments API Documentation...Methodology:.The Census Bureau has made arrangements with state government departments of education to use data from existing finance information collection systems where the data are compatible with this survey's categories. Every state department of education obtains information annually on a wide variety of financial data from elementary-secondary school systems by requiring reports or conducting surveys. The Census Bureau is able to gain access to this information through cooperative agreements with each state as summarized below:.. • Data compiled or reformatted by Census Bureau staff from state education agency electronic data files (17 states)... • Data reformatted by state education agency staff into survey categories before electronically transmitting data to the Census Bureau (33 states and DC)....A single office or database in the state departments of education did not always have all of the information needed for this survey. In these instances, other sources—most often different state offices—supplied information to supplement the basic data. The most common types of data needing supplementation were school lunch finances, indebtedness, cash and security holdings, and capital fund transactions...For detailed information about the methods used to collect and produce statistics, including sampling, questions, data collection and processing, editing, data quality, review, sampling error, nonsampling error, and more, see Annual Survey of School System Finances Technical Documentation...Symbols:.N - No...

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.