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.

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.

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.

United States - Personal Saving Rate was 4.60% in January of 2025, according to the United States Federal Reserve. Historically, United States - Personal Saving Rate reached a record high of 32.00 in April of 2020 and a record low of 1.40 in July of 2005. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Personal Saving Rate - last updated from the United States Federal Reserve on March of 2025.

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

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

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.

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.

Personal Income in the United States increased 0.90 percent in January of 2025 over the previous month. This dataset provides the latest reported value for - United States Personal Income - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Households Debt in the United States decreased to 70.50 percent of GDP in the third quarter of 2024 from 70.70 percent of GDP in the second quarter of 2024. This dataset provides - United States Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In the third quarter of 2024, roughly 2.73 percent of all consumer loans at commercial banks in the United States were delinquent. The delinquency rate on this type of credit has been rising again since 2021. Loans are delinquent when the borrower does not pay their obligations on time. One of the reasons for the delinquency rate decreasing during the first years of the COVID-19 pandemic was that the personal saving rate in the U.S. soared during that period. What is the trend in consumer credit levels in the United States? Consumer credit refers to the various types of loans and credit extended to individuals for personal use, often to fund everyday purchases or larger expenses. When credit levels rise, it often signals that consumers are more confident in their ability to manage debt and make future payments. After a period of strong growth between 2021 and early 2023, consumer credit in the United States has been growing at a slower pace. By early 2024, consumer credit levels reached over five trillion U.S. dollars. What is the main channel for acquiring consumer credit? In 2024, the leading type of consumer credit among consumers in the U.S. was credit card bills. Credit card usage in the North American country was substantial and credit card penetration was expected to reach over 68.4 percent by 2029. Car loans ranked next as a common source of consumer credit, while other types of debt, such as medical bills, home equity lines of credit, and personal educational loans, had lower percentages.

India’s per capita net national income or NNI was around 200 thousand rupees in financial year 2025. The annual growth rate was 8.6 percent as compared to the previous year. National income indicators   While GNI (Gross National Income) and NNI are both indicators for a country’s economic performance and welfare, the GNI is related to the GDP plus the net receipts from abroad, including wages and salaries, property income, net taxes and subsidies receivable from abroad. On the other hand, the NNI of a country is equal to its GNI net of depreciation. In 2020, India ranked second amongst the Asia Pacific countries in terms of its gross national income. This has been possible due to a favorable GDP growth in India. Measuring wealth versus welfare   National income per person or per capita is often used as an indicator of people's standard of living and welfare. However, critics object to this by citing that since it is a mean value, it does not reflect the real income distribution. In other words, a small wealthy class of people in the country can skew the per capita income substantially, even though the average population has no change in income. This is exemplified by the fact that in India, the top one percent of people, control over 40 percent of the country’s wealth.

Graph and download economic data for Deposits, All Commercial Banks (DPSACBW027SBOG) from 1973-01-03 to 2025-03-12 about deposits, banks, depository institutions, and USA.

According to Cognitive Market Research, the global Financial Wellness Benefits market size is USD 2151.2 million in 2024 and will expand at a compound yearly growth rate (CAGR) of 14.00% from 2024 to 2031.

North America holds the major market of more than 40% of the global revenue with a market size of USD 860.48 million in 2024 and will rise at the compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.
Europe accounts for a share of over 30% of the global market size of USD 645.36 million.
Asia Pacific holds the market of around 23% of the global revenue with a market size of USD 494.78 million in 2024 and will rise at a compound annual growth rate (CAGR) of 16.0% from 2024 to 2031.
Latin America holds the market of more than 5% of the global revenue with a market size of USD 107.56 million in 2024 and will rise at the compound yearly growth rate (CAGR) of 13.4% from 2024 to 2031.
Middle East and Africa holds the major market of around 2% of the global revenue with a market size of USD 43.02 million in 2024 and will rise at a compound annual growth rate (CAGR) of 13.7% from 2024 to 2031.
The one-on-one holds the highest Financial Wellness Benefits market revenue share in 2024.

Market Dynamics of Financial Wellness Benefits Market

Key Drivers for Financial Wellness Benefits Market

Rising Recognition by Employers of the Importance of Supporting Employees' Financial Well-Being to Increase the Demand Globally

The recognition by employers of the importance of supporting employees' financial well-being is a significant driver for the growth of the Financial Wellness Benefits Market. As employers become more aware of the impact of financial stress on employee productivity, job satisfaction, and overall wellness, they are increasingly investing in financial wellness benefits as the part of their employee benefits packages. These benefits may include financial education programs, access to financial advisors, retirement planning assistance, debt management tools, and employer-sponsored savings programs. By offering these resources, employers aim to empower their employees to make informed financial decisions, alleviate financial stressors, and improve their overall financial health. Moreover, supporting employees' financial well-being can lead to reduced absenteeism, lower turnover rates, and enhanced employee morale and loyalty.

Rising Awareness among Employees about the Importance of Financial Literacy to Propel Market Growth

Rising awareness among employees about the importance of financial literacy plays a significant role in driving the growth of the Financial Wellness Benefits Market. As individuals become increasingly aware of the complexities of personal finance and the long-term implications of their financial decisions, there is a growing demand for support and guidance in managing finances effectively. Employees are seeking resources and tools to enhance their financial literacy, including budgeting, saving, investing, and retirement planning. Employers are responding to this demand by offering comprehensive financial wellness benefits as part of their employee benefits packages. These benefits often include access to financial education programs, workshops, online resources, and one-on-one financial counseling services. By offering employees with the tools and knowledge to make informed financial decisions, employers not only support their workforce's well-being but also foster a more engaged and productive workforce.

Restraint Factor for the Financial Wellness Benefits Market

Lack of Employee Engagement and Utilization of Available Financial Wellness Benefits to Limit the Sales

Despite employers offering these benefits, some employees may not fully understand their value or may not actively seek out resources due to various reasons such as time constraints, lack of interest, or perceived complexity of financial topics. Additionally, employees may feel uncomfortable discussing personal financial matters with their employers or may be hesitant to seek help due to privacy concerns. Furthermore, the effectiveness of financial wellness benefits depends heavily on employees' willingness to participate and apply the knowledge gained to their financial situations. Without adequate engagement and utilization, the impact of these benefits on employees' financial well-being may be limited. Therefore, addressing barriers to ...

Graph and download economic data for Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks (CCLACBW027SBOG) from 2000-06-28 to 2025-03-12 about revolving, credit cards, loans, consumer, banks, depository institutions, and USA.

In 2024, the average annual per capita disposable income of households in China amounted to approximately 41,300 yuan. Annual per capita income in Chinese saw a significant rise over the last decades and is still rising at a high pace. During the last ten years, per capita disposable income roughly doubled in China. Income distribution in China As an emerging economy, China faces a large number of development challenges, one of the most pressing issues being income inequality. The income gap between rural and urban areas has been stirring social unrest in China and poses a serious threat to the dogma of a “harmonious society” proclaimed by the communist party. In contrast to the disposable income of urban households, which reached around 54,200 yuan in 2024, that of rural households only amounted to around 23,100 yuan. Coinciding with the urban-rural income gap, income disparities between coastal and western regions in China have become apparent. As of 2023, households in Shanghai and Beijing displayed the highest average annual income of around 84,800 and 81,900 yuan respectively, followed by Zhejiang province with 63,800 yuan. Gansu, a province located in the West of China, had the lowest average annual per capita household income in China with merely 25,000 yuan. Income inequality in China The Gini coefficient is the most commonly used measure of income inequality. For China, the official Gini coefficient also indicates the astonishing inequality of income distribution in the country. Although the Gini coefficient has dropped from its high in 2008 at 49.1 points, it still ranged at a score of 46.5 points in 2023. The United Nations have set an index value of 40 as a warning level for serious inequality in a society.

The estimated per capita income across Sikkim was the highest among Indian states at around 588 thousand Indian rupees in the financial year 2024. Meanwhile, it was the lowest in the northern state of Bihar at over 60 thousand rupees. India’s youngest state, Telangana stood in the fifth place. The country's average per capita income that year was an estimated 184 thousand rupees. What is per capita income? Per capita income is a measure of the average income earned per person in a given area in a certain period. It is calculated by dividing the area's total income by its total population. If absolute numbers are noted, India’s per capita income doubled from the financial year 2015 to 2023. Wealth inequality However, as per economists, the increase in the per capita income of a country does not always reflect an increase in the income of the entire population. Wealth distribution in India remains highly skewed. The average income hides the disbursal and inequality in a society. Especially in a society like India where the top one percent owned over 40 percent of the total wealth in 2022.

Private Debt to GDP in the United States decreased to 216.50 percent in 2023 from 224.50 percent in 2022. United States Private Debt to GDP - values, historical data, forecasts and news - updated on March of 2025.