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Showing posts with label US savings. Show all posts
Showing posts with label US savings. Show all posts

February 14, 2011

How Americans Saves their Money : Insights and Trends on American saving


American Saving Information via  submitinfographics

The website at GoBankingRates.com created this infographic, which shows a few interesting facts about the U.S. Savings Rate. The first box shows the U.S. household savings rate dropped from 6% in 1993 to less than 1% in 2006. However, some say that the savings rate calculation is faulty
  • The average American family has $3,800 in the bank.
  • 50% of American households don’t have a retirement account.
  • The 50% of households with retirement accounts only have $35,000 saved up (per family).
  • The average family owns a house worth $160,000, $95,000 of which is their mortgage.
  • Average income is $43,000 per year.
  • Average credit card debt is $2,200.
  • 40% of working Americans are not saving for retirement.
  • $117,951 is the average American household’s debt.
  • 25% of households have no savings whatsoever.
  • 24% have postponed retirement.
  • Only 18% are very confident about their retirement situation.
  • $2 trillion is the combined amount of personal debt held by Americans.
  • 7.7% don’t own a bank account!




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 information on how america saves via savings
The average family has $3,800 in the bank. No one in the family has a retirement account (in 50 percent of American households). Their neighbors (the other 50 percent) only have $35,000 saved for retirement. The family has no mutual funds, stocks or bonds. The house is worth $160,000, but the family owes $95,000 on it to the bank. They make $43,000 a year, but can’t manage to pay off a $2,200 credit card balance.

The average American family’s finances, by the way, are in shambles. Forty percent of working Americans are not saving for retirement. Twenty-five percent have no savings at all—retirement or otherwise. The average household has $117,951 in debt. That’s enough to buy 7.5 2010 Honda Civics.
The combined amount of personal debt held by Americans is $2 trillion. This is about the GDP of England. Twenty-four percent of workers have postponed their retirement age in the past year. Eighteen percent of people polled are very confident about having enough money for retirement.

Among Americans, 7.7 percent don’t have a bank account. Only 1.7 percent of Utah residents don’t have a bank account, while 16.7 percent of Mississippi’s residents don’t have a bank account. Less than 4/10 of American adults have an emergency fund to fall back on in the event of some financial disaster.


source :Visual Economics: