As humans, we naturally want to figure out how we’re doing compared to other people. Today, I’ll calculate how much people on average save monthly, so that you can know how well you’re doing.

Let me get straight to the point:

**The average monthly household saving in The U.S. is $404. The median monthly savings is $281. This is based on the average and median household income and the average personal savings rate of 5%.**

I’ll throw in some charts and tables to make it more visually interesting.

To figure out how much you should be saving, check out one of these articles:

- How Much Money Should You Save Per Day?
- Is Saving 20% Of Your Income Enough?
- How Much Should YOU Save Per Year?

**The Average Saving Rate Is 5%:**

On average, American workers are currently saving 5% of their income. This is based on “The U.S. Bureau of Economic Analysis” surveys.

It used to be higher, but has steadily declined over the last few decades:

As you can see, the average savings rate used to be between 10 and 15 percent. It fell steadily through the 1980′ – 2000′ and bottomed out in 2005 at 2.1%.

In the pandemic, it shot up to 33%, but sharply fell back to the current average of 5 percent.

**In conclusion, the average person saves 5% of their income.**

Let’s use that to figure out the actual dollar amount that’s being saved, monthly, on average.

**How Much Money The Average Person Saves Monthly**

To calculate how much money people save monthly, we need to figure out the monthly average income.

Actually, it’s probably better to take the median income, as it’s a closer representation of “regular people”. The average is heavily skewed to the upside due to a few people earning tons of money *(Pareto Principle)*. I’ll do both, for good measure.

According to The Balance, the median household income in The U.S is $67,521.

They also mention that the average household income is $97,026.

Given these numbers, here are the conclusions about the average monthly savings in The U.S.:

Annual Income | Annual Average Savings |
---|---|

Median ($67,521) | $3,377 |

Average ($97,026) | $4,851 |

The monthly numbers are now easily calculated by dividing the numbers by twelve. Here they are:

**Based on the personal savings rate and a median household income, the average monthly savings is $281.****The average monthly savings, based on the personal savings rate and an average household income, is $404**

That’s not a lot. It’s not easy, but if you follow the four steps to saving a lot of money you can quickly climb above those numbers.

**Conclusion: On Average People Save $281 – $404 Per Month**

**Given the personal savings rate of 5%, the average monthly saving per household comes out to $281 or $404 depending on if you use the median income or the average income of households in The U.S.**