Throwback Tuesday Question of the Day: What is the personal savings rate in the United States?
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)
- 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?
NGPF has lots of resources focused on Saving. Check them out here.
About the Author
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.
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