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How Much Do Americans Save?

%24 How much do Americans save? Money doesn't grow on trees... How do you compare to your neighbors? The average American An income of On average, $3,000 are given back in a The median household income $50,000 falls into in the United States is approximately: the 25% federal tax tax return. bracket. $50,000 $37,500 25% $40,500 19%% 19% Taxes $9,500 Having paid 19% in taxes, $40,500 is left in disposable income (income - taxes). 94% Expenses and purchases $37,600 According to The Bureau of Economic %3. Analysis, the average American spends about 94% of their disposable income. 43% of American families spend more than they earn. 6% Savings $2,400 The remaining 6% is saved. 41% of American's save regularly. How much have Americans saved in the past? 30% #2 26% 25% #5 6.5% 20% #6 2.1% 15% #3 9.6% #7 6.2% 10% 5% 0% #1 -1.1% -5% + 1929 1940 1950 1960 1970 1980 1990 2000 2010 Notable dates #1. 1932 = Great Depression #5. 1987 = Black Monday #2. 1944 = WWII highest rate #6. 2007 = Credit crisis #3. 1946 = End of WWII #7. 2010 = July 2010 How do American saving habits compare globally? 30% 14% 13% 6% China Switzerland Germany USA 5 Reasons why Americans can't save money Lifestyle maintenance Most people increase their expenses WILL WORK 4 Heated seats as quickly as they increase their income. The problem is that they can't give up their and Direct TV improved lifestyle when they face financial hardship. Instant gratification "On demand video," "instant pain JUST ADD NEW CEREAL INSTANT GRATIFICATION! WATER! relief," "fast food," and "buy now, pay later." Not only do we want it, but we want it NOW! 300g Plastic doesn't feel like real money PLASTIBANK (3 A wallet doesn't get lighter when you charge things to your credit card. It makes it a lot easier to spend more than you can afford. 0012 3456 7890 0000 MR. MONEYBAGS Avoiding the truth How can you fear what you don't know? Some people are unaware of their financial situation and are afraid to find out. They just pay their minimums and ignore their growing debt. BRAND NEW! Keeping up with the Jones' BIGGER! We want to feel as successful or more BETTER! successful than those around us. What we don't realize is that the neighbors probably can't afford that new boat either. Sources: &ViewSeries=NO&Java=no&Request3Place=N&3Place= N&FromView-YES&Freq=Qtr&FirstYear=2005&LastYear-201083Place-N&Update-Update&JavaBox=no#Mid,,,,,,,, %24

How Much Do Americans Save?

shared by kcatoto on Dec 28
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How much money does the average American have in their savings account, and how does that compare against other nations? How much do we put away each month, and is that better or worse than a decade a...




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