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America Saves: The U.S. Savings Rate is Rising!

America Saves: The U.S. Savings Rate is Rising!

May 29, 2020 By Kurt Henn last modified on December 17, 2022 Leave a Comment

Although the pandemic has been quite harrowing on the majority of US families, there is one important positive that has come out of the national crisis. American families are officially saving more now than they have in a 39-year time span! This may be a win when it comes to added preparation, but economists fear that the sluggish spending associated with these high savings levels could wreak havoc on the economy overtime. They suggest that a happy medium is to save ten to twenty percent of your income.

Key Takeaways:

  • While the coronavirus pandemic has caused a lot of economic turmoil, Americans are beginning to increase their savings.
  • At the moment, credit card usage and spending, as well as incomes, are down.
  • While the economy might take some time to recover, saving is always a good idea.

“The March 2020 personal savings rate was 13.1 percent—a rate not seen since 1981, during the Reagan years.”

Read more: https://partners4prosperity.com/american-savings-rate/

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About Kurt Henn

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Kurt has gone from the financial lows of the '08 financial crisis to personal financial success. He is a professional real estate investor, media buyer, faithful Red Sox Fan.

Pursuing financial freedom while being a family man.

You can learn more about Kurt here, or get a hold of him on Facebook or Twitter.

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