excess savings during the COVID-19 pandemic in the U.S. and other countries were the main reason for that increase, as the measures implemented to contain the spread of the virus had an impact on consumer spending.
Personal savings in the United States reached a value of 911 billion U.S. dollars in 2023, which is significantly higher than in 2022. Personal savings peaked in 2020 at nearly 2.7 trillion U.S. dollars. Those figures remained very high until 2021. The Value of personal savings in the United States from 1960 to 2023 (in billion U.S. dollars)
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Other statistics that may interest you Personal savings in the United States
Overview
6
- Basic Statistic Monthly personal savings as a share of disposable income in the U.S. 2015-2024
- Premium Statistic Mean and median amount of personal savings in the U.S. 2022-2023, by type
- Basic Statistic Personal savings in the U.S. 1960-2023
- Basic Statistic Savings and other checkable deposits in the U.S. 2020-2023
- Premium Statistic Amount of money saved in savings accounts in the U.S. 2023
- Premium Statistic Gross savings as share of GDP in the U.S. 1970-2021
Household savings
6
- Basic Statistic Household savings in the U.S. 2000-2022
- Basic Statistic Time and savings deposits of households and nonprofit organizations U.S. 2000-2022
- Premium Statistic Share of families that saved in the U.S. 2001-2022, by ethnicity
- Premium Statistic Share of families that saved in the U.S. 2004-2022, by work status
- Premium Statistic Share of families with savings bonds in the U.S. 2007-2022, by age of family head
- Premium Statistic Financial instruments owned by children in the U.S. 2022
College savings
4
- Premium Statistic Households saving for college in the U.S. 2020-2022, by age of household head
- Basic Statistic Total Education tax savings for college students U.S. 2002-2023
- Basic Statistic Assets of section 529 savings plan in the U.S. 2009-2022
- Premium Statistic 529 college savings average account balance in the U.S. 2016-2022
Retirement savings
7
- Premium Statistic Adults with any retirement savings in the U.S. 2021-2022, by age group
- Premium Statistic Opinion of Americans on state of their retirement savings 2022, by ethnicity
- Premium Statistic Confidence in progress toward retirement goals for individuals in the U.S. 2023
- Premium Statistic Household retirement savings in the U.S. 2020-2022, by amount
- Premium Statistic Value of assets invested in IRAs in the U.S. 2022, by type
- Premium Statistic Probability of outliving their savings in the U.S. 2020-2023
- Premium Statistic Leading challenges of individuals saving for retirement in the U.S. 2023
Saving practices
6
- Basic Statistic Reasons why families saved in the U.S. 2010-2022
- Premium Statistic Goals in New Year's financial resolution in the U.S. 2022
- Premium Statistic Factors that are holding back Americans from saving for a down payment 2022
- Premium Statistic Major obstacles to saving for a down payment among American homebuyers 2022, by age
- Premium Statistic Emergency bill: savings, credit card, borrow vs personal loan U.S. 2023
- Premium Statistic Bank account and service complaints reported CFPB in the U.S. 2022
Impact of the economy on savings
3
Further related statistics
16
- Gross savings per capita in Denmark 2007-2022
- Household gross savings in Denmark 2008-2022
- Average monthly savings of consumers in Belgium 2017, by age group
- Households long-term savings in France 2020-2021, by saving product
- French households savings rate 2010-2022
- Households housing savings rate by household type in France 2018
- Emergency savings and medical debt among U.S. persons 2014
- Household financial savings rate in France 2000-2021
- Spending behavior of U.S. Millennials 2016, by share of income spent
- Amount of money saved in saving accounts in the United States 2019, by gender
- Average saving per month in Malaysia 2023
- Amount of money saved in savings accounts in the U.S. 2023
- Amount saved by separated parents in the UK in 2014
- Change in spending behavior of senior and younger households in the U.S. 2017
- Amount of money saved in saving accounts in the United States 2017, by generation
- Number of personal bankruptcy filings in Nebraska, 2011-2019
Further Content: You might find this interesting as well
Statistics
- Gross savings per capita in Denmark 2007-2022
- Household gross savings in Denmark 2008-2022
- Average monthly savings of consumers in Belgium 2017, by age group
- Households long-term savings in France 2020-2021, by saving product
- French households savings rate 2010-2022
- Households housing savings rate by household type in France 2018
- Emergency savings and medical debt among U.S. persons 2014
- Household financial savings rate in France 2000-2021
- Spending behavior of U.S. Millennials 2016, by share of income spent
- Amount of money saved in saving accounts in the United States 2019, by gender
- Average saving per month in Malaysia 2023
- Amount of money saved in savings accounts in the U.S. 2023
- Amount saved by separated parents in the UK in 2014
- Change in spending behavior of senior and younger households in the U.S. 2017
- Amount of money saved in saving accounts in the United States 2017, by generation
- Number of personal bankruptcy filings in Nebraska, 2011-2019
St. Louis Fed. (January 25, 2024). Value of personal savings in the United States from 1960 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved March 19, 2024, from https://www.statista.com/statistics/246261/total-personal-savings-in-the-united-states/
St. Louis Fed. "Value of personal savings in the United States from 1960 to 2023 (in billion U.S. dollars)." Chart. January 25, 2024. Statista. Accessed March 19, 2024. https://www.statista.com/statistics/246261/total-personal-savings-in-the-united-states/
St. Louis Fed. (2024). Value of personal savings in the United States from 1960 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: March 19, 2024. https://www.statista.com/statistics/246261/total-personal-savings-in-the-united-states/
St. Louis Fed. "Value of Personal Savings in The United States from 1960 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 25 Jan 2024, https://www.statista.com/statistics/246261/total-personal-savings-in-the-united-states/
St. Louis Fed, Value of personal savings in the United States from 1960 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/246261/total-personal-savings-in-the-united-states/ (last visited March 19, 2024)
Value of personal savings in the United States from 1960 to 2023 (in billion U.S. dollars) [Graph], St. Louis Fed, January 25, 2024. [Online]. Available: https://www.statista.com/statistics/246261/total-personal-savings-in-the-united-states/