Throwback Tuesday Question of the Day: What is the personal savings rate in the United States?

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Aug 12, 2019
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Question of the Day, Savings

Every Tuesday, we will be updating the data for Question of the Day that had been used previously. This Tuesday it's all about savings...

Answer: 8.1% (as of June 2019)

Questions: 

  • How does the personal savings rate today (about 8%) compare to the rate during other periods of time? (In other words, is the rate lower, higher, or around the same?) 
  • What has been the general trend for personal savings rate in the U.S. from 1960-2019? 
  • What has happened to the personal savings rate during recessions (gray bars)? 
  • What do you think is a good saving target to aim for personally? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

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NGPF has lots of resources focused on Saving. Check them out here. 

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.