how to invest


career, food, travel


saving, credit, debt


insurance, security


401K, IRA, FI, Retire

Home » Budgeting

Your Personal Savings Rate Poll Results

Last updated by on 9 Comments

A few weeks back I detailed how to calculate your personal savings rate and put a poll out for readers to share their own personal savings rate.

We knew going in that the average U.S. personal savings rate is a mere 5%. And last week we took a look at the personal savings rate by country and how Americans were seriously lagging some of their industrialized sistren (is that a word?) and brethren.

Over two hundred of you voted and I was impressed with the results (not surprised, because I knew you were all an overachieving bunch).

Here are the results!


Inside the numbers:

  • There was almost a three-way tie for first between a 10-20%, 20-30%, and 30-40% personal savings rate (each receiving over 20% of the votes). That’s a pretty wide distribution, but great in that all are at least double the U.S. average.
  • Very impressed to see that a whopping 43% of you are saving over 30% of your income and 90% of you are saving over 10% – blowing away the averages!
  • 13% of you are saving over half your income. Great job to you folks!
  • Perhaps, the most impressive statistic is that only 5% of you are below the national average (and 95% were above).

This highlights a few key things to me:

  1. For the most part, especially compared to the average, you are all doing great.
  2. I’m pleasantly surprised that more of you aren’t below the national average, since the twenties and even thirties are a time when so many people are trying to dig themselves out of student loan debt.
  3. Perhaps debt is not the biggest concern on your minds. It might make more sense for me to gear content around boosting savings than getting out of debt.

Your Thoughts?

  • Are you surprised, impressed, or shocked with these results?
  • What is the spread between your personal savings rate and your desired personal savings rate?
  • Is ‘sistren’ a legit word?

Related Posts:

About the Author
I am G.E. Miller, & this is my story. My goal is financial independence ASAP. If you share that goal, join me & 7,500+ others by getting FREE email updates. You can also explore every post I have written, in order.

  • Natalie says:

    No, I’m not surprised by the numbers, but you should consider that those with a low rate may be less willing to respond to the poll.

    Sistren, [as opposed to Brethren,] had fallen completely out of use by the middle of the 16th century. It has recently been revived, typically by feminist writers, with the new meaning ‘fellow women’ (e.g. Lead singer Beth starts out most shows with several shout-outs to her sistren). This use is not yet well established in standard English.

  • Michelle says:

    These numbers are surprising when compared to the national average. However, when placed into context the numbers are much less surprising. I would go so far as to say I expect people that read this blog and other finance articles to be more concerned about where their money goes and have disposable income to invest with. So, their savings rate should be higher.

  • Julia says:

    I’d love to see more content more geared towards how to save as opposed to whether to save or put the money towards debt. There are a lot of blogs dedicated to debt reduction, but not a whole lot that focus on how to be most productive in stocks/bonds/other savings vehicles.


  • Josh says:

    I’d be very interested in hearing more about what to do with the money once it is saved. What are good vehicles in which to keep emergency cash close at hand, yet still provide some not-insignificant return (I’m using an online savings acct at 1.15%). Where should additional money be placed in order to gain a higher return, but still with lower risk/fluctuations than in stocks (I’m a fan of low-cost index funds in my retirement accts).

  • Chris says:

    I’d be really interested in reading more about boosting savings – to me, getting out of debt is much more clear cut than navigating the terrible interest rates and herky-jerky stock market that makes it really difficult to gain solid interest on money today.

  • Ginger says:

    I think it is not surprising because those who read these kinds of blogs self-select towards those who save/invest and care about of future and therefore save more than the average. Though my husband and I do have debt all of it is below 6% and therefore for now, we are focusing on investing and getting a stable foundation in our lives. Once my DH finishes grad school though, he will owe $17,000 at 6.80% and we will switch to debt repayment mode. We will still save 10-15% towards retirement and a small amount in our EF but most will go towards debt repayment. Once we are done (10-15 years from now) we will go back to investing and saving more. I think saving and investing goes in waves, and hopefully our generation will help bring the average back up.

  • Bertholdt Brecht says:

    Actually, by most accounting standards paying off debt IS a form of saving, since being in debt is the same as having a negative savings balance; having a positive savings balance can also be thought of as having negative debt. Apart from tax-exempt 401(k) contributions and a small amount of “buffer” cash for emergencies (~$2000-3000), you really should prioritize paying down debt over accumulating extra cash (unless there are penalties for paying off principal early, and even then if the rate is high enough it’s still worth it).

  • Jade says:

    Saving should start from the day you start receiving money. great Post G.E.


Enter your:

Home | Sitemap | Terms | ©