Saving Less? You're Not Alone.

January 22, 2024

The U.S. personal saving rate — the percentage of personal income that remains after taxes and spending — was 3.8% in October 2023. The saving rate spiked to an all-time high during the pandemic, when consumers received government stimulus money with little opportunity to spend, but fell quickly as stimulus payments ended and high inflation ate into disposable income. The current level is well below pre-pandemic saving rates.



A low personal saving rate means there is less money available on a monthly basis for saving and investment. However, many households still have pandemic-era savings, and the low rate indicates consumers are willing to spend, which is good for the economy. The question is how long this spending can be sustained.

a woman is sitting at a table using a laptop computer with a chart of saving rates and pandemic recession to her left.

All Securities Through Money Concepts Capital Corp., Member FINRA / SIPC

11440 North Jog Road, Palm Beach Gardens, FL 33418 Phone: 561.472.2000

Copyright 2010 Money Concepts International Inc.

Investments are not FDIC or NCUA Insured

May Lose Value - No Bank or Credit Union Guarantee

This communication is strictly intended for individuals residing in the state(s) of MI. No offers may be made or accepted from any resident outside the specific states referenced.

Prepared by Broadridge Advisor Solutions Copyright 2020.

A family is playing a ring toss game by a lake and mountains. Three rings are flying through the air
July 30, 2025
Don't let a recession disrupt your vacation plans. A staycation might be the perfect solution.
An older and younger woman are walking outside while looking down and smiling.
July 30, 2025
Learn practical tips for having a conversation with your parent(s) about their finances.
July 30, 2025
What is Munis (municipal bond) and are they right for you?
A woman with sunglasses on her head is walking with people passing by in the background.
July 30, 2025
Families still believe a college degree will help further their careers. Find out what the leading factors are with selecting a college.
Show More