Savings Rate Statistics 2026
By Axis Intelligence Research
Co-author: Sarah Davis | Last updated: October 6, 2026 | License: CC BY 4.0
The US personal saving rate fell to 4.1% of disposable income in August 2026, its lowest reading since November 2022, according to the Bureau of Economic Analysis. Axis Intelligence Research finds that the annual revision lifted June and July by 1.7 and 1.6 points, so the “under 3%” headlines of the summer no longer describe the data.
Quick Answer
The US personal saving rate was 4.1% in August 2026, with personal saving at $990.2 billion at an annual rate (BEA). That is down from a 5.4% average in 2025, Axis Intelligence Research calculates. At the household level, 55% of adults hold three months of emergency savings and 63% would cover a $400 shock with cash (Federal Reserve SHED).
Key Findings
- According to the US Bureau of Economic Analysis, the personal saving rate fell to 4.1% of disposable personal income in August 2026, from 4.6% in July.
- Axis Intelligence Research finds that BEA’s 2026 annual update raised June’s saving rate from 2.7% to 4.4% and July’s from 3.0% to 4.6%, a revision gap of 1.7 and 1.6 points.
- Axis Intelligence Research calculates that the US saving rate averaged 4.7% from January to August 2026, versus 5.4% in 2025 and 7.3% in 2019.
- The Federal Reserve’s 2025 SHED found 55% of US adults had three months of emergency savings, but only 21% of adults earning under $25,000 did.
- According to Axis Intelligence Research, the Rainy Day Divide Index (RDDI) reads 2.20 in its baseline reading, meaning the best-buffered US groups are on average 2.2 times as likely to hold a three-month emergency fund as the least-buffered.
What Is the US Personal Saving Rate in 2026?
The personal saving rate is personal saving divided by disposable personal income (income after taxes), published monthly by BEA. In August 2026 it was 4.1%, per the Personal Income and Outlays, August 2026 release of September 30.
The mechanics of the drop were simple. Disposable income rose 0.3% ($68.6 billion) in August while spending jumped 0.9% ($190.8 billion). Adjusted for prices, disposable income was flat at 0.0% and real spending rose 0.6%. Households spent faster than they earned, and the gap came out of the saving line. The PCE price index was up 3.4% from a year earlier.
US Personal Saving Rate by Month, 2026
| Month 2026 | Saving rate (% of DPI) | Source |
|---|---|---|
| January | 5.6 | FRED / BEA |
| February | 5.3 | FRED / BEA |
| March | 5.1 | FRED / BEA |
| April | 4.4 | FRED / BEA |
| May | 4.4 | FRED / BEA |
| June | 4.4 | FRED / BEA |
| July | 4.6 | FRED / BEA |
| August | 4.1 | BEA |
Source: BEA via the St. Louis Fed’s FRED series PSAVERT, vintage of September 30, 2026. Seasonally adjusted.
The last time the rate printed this low was November 2022, at 4.0%. It is still well above the June 2022 trough of 2.4%.
Sarah Davis: A saving rate is a residual, not a decision anyone makes. Nobody “chooses 4.1%.” It is what is left after income, taxes and a 0.9% spending jump collide. Read it as a flow gauge on the household balance sheet, not a virtue score, and watch the real income line under it: flat real income plus faster real spending is the combination that drains it.
Why Did the Saving Rate Jump From 3.0% to 4.6%? The Axis Revision Gap
This is the part most coverage missed. BEA’s September 30 release included its annual update of the National Economic Accounts, with revisions back to January 2021. The summer readings that drove “savings collapse” stories were rewritten.
Saving Rate Revision Gap: First Print vs Current Estimate
| Month | First print | Release date | Current estimate | Revision gap |
|---|---|---|---|---|
| June 2026 | 2.7% | July 30, 2026 (BEA) | 4.4% | +1.7 pts |
| July 2026 | 3.0% | August 26, 2026 (BEA) | 4.6% | +1.6 pts |
Source: Axis Intelligence Research calculation. Revision gap = current FRED/BEA estimate minus first published estimate.
According to Axis Intelligence Research, the June and July saving rates were revised up by more than half of their original value. Any dataset, chart or article citing a 2.7% or 3.0% US saving rate for mid-2026 is citing a superseded vintage. BEA’s technical notes point to incorporation of Quarterly Census of Employment and Wages data for early 2026 and revised monthly payroll data as drivers of the income revisions.
Sarah Davis: This is why I never trade off a single print of this series. The saving rate is income minus spending, and income gets revised hardest. A 1.7-point revision is bigger than the whole move from July to August. If your forecast hinged on “households are tapped out at 2.7%,” the forecast needs re-running, not the households.
How Does the 2026 Saving Rate Compare Historically?
Annual Average Personal Saving Rate
| Period | Average saving rate | Source |
|---|---|---|
| 2019 | 7.3% | Axis calculation on FRED PSAVERT |
| 2025 | 5.4% | Axis calculation on FRED PSAVERT |
| 2026 (Jan to Aug) | 4.7% | Axis calculation on FRED PSAVERT |
Historical Reference Points
| Month | Saving rate | Context |
|---|---|---|
| May 1975 | 17.3% | 1975 tax rebate month |
| July 2005 | 1.4% | Housing-boom low |
| April 2020 | 31.8% | Series high, pandemic transfers |
| June 2022 | 2.4% | Post-stimulus trough |
| August 2026 | 4.1% | Latest |
Source: BEA via FRED, vintage September 30, 2026.
Axis Intelligence Research calculates that 2026 is running 2.6 points below the 2019 average. Against the 1.4% of July 2005, the current level is not extreme; against the pre-pandemic baseline, households are putting away a visibly thinner slice of each paycheck.
How Many Americans Have Emergency Savings?
The national saving rate is an aggregate. It cannot tell you whether a given household can absorb a car repair. For that, the source is the Federal Reserve Board’s Survey of Household Economics and Decisionmaking (SHED), fielded October 17 to 28, 2025 among about 13,000 adults and published May 13, 2026.
Emergency Savings Statistics, 2025
| Measure | Share of US adults | Source |
|---|---|---|
| Have three months of emergency savings | 55% | Federal Reserve SHED 2025 |
| Could not cover three months by any means | 30% | Federal Reserve SHED 2025 |
| Would cover a $400 expense with cash or equivalent | 63% | Federal Reserve SHED 2025 |
| Could not pay a $400 expense by any means | 12% | Federal Reserve SHED 2025 |
| Could pay $500 or more from savings alone | 70% | Federal Reserve SHED 2025 |
| Largest expense coverable from savings under $100 | 18% | Federal Reserve SHED 2025 |
| Always or often have money left over each month | 41% | Federal Reserve SHED 2025 |
| Reduced saving in response to higher prices | 41% | Federal Reserve SHED 2025 |
Both headline buffers are below their 2021 peaks: the three-month share was 59% and the $400 share 68% that year (Federal Reserve).
One detail worth pulling out. Axis Intelligence Research finds a 7-point gap between the 70% who could pay $500 from savings and the 63% who say they would pay $400 with cash. About 7 in every 100 adults have the cash and chooses to protect it, putting the shock on credit instead. That is buffer-preservation behavior, and it feeds directly into the revolving balances tracked on our household debt statistics page.
Emergency Savings by Income
| Family income | Three months of emergency savings | Source |
|---|---|---|
| Less than $25,000 | 21% | SHED 2025, Table 27 |
| $25,000 to $49,999 | 39% | SHED 2025, Table 27 |
| $50,000 to $99,999 | 55% | SHED 2025, Table 27 |
| $100,000 or more | 75% | SHED 2025, Table 27 |
Axis Intelligence Research calculates a 54-point buffer gap between the top and bottom income groups. Put differently, among adults earning under $25,000 there are about 27 with a three-month fund for every 100 without one.
Emergency Savings by Age, Race and Disability
| Group | Three months of emergency savings | Source |
|---|---|---|
| Ages 18 to 29 | 37% | SHED 2025 |
| Ages 30 to 44 | 49% | SHED 2025 |
| Ages 45 to 59 | 55% | SHED 2025 |
| Ages 60+ | 71% | SHED 2025 |
| White | 61% | SHED 2025 |
| Black | 38% | SHED 2025 |
| Hispanic | 43% | SHED 2025 |
| Asian | 68% | SHED 2025 |
| With a disability | 40% | SHED 2025 |
| Without a disability | 60% | SHED 2025 |
| Men | 57% | SHED 2025 |
| Women | 53% | SHED 2025 |
The single strongest predictor in the SHED is cash flow, not demographics: 86% of adults who always have money left over hold a three-month fund, against 13% of those who never do.
Sarah Davis: The $400 question gets the headlines, but the three-month question is the one that matters for a layoff, and 59% of adults had a major unexpected expense last year. The buffer is not a lifestyle choice for the bottom income bracket; at 19% “money left over” for those under $25,000, there is no surplus to bank. Advice that starts with “just save 10%” is aimed at the wrong people.
The Rainy Day Divide Index (RDDI): How Unequal Is the US Savings Cushion?
Averages hide the spread, so Axis Intelligence Research built the Rainy Day Divide Index (RDDI). It measures how unevenly emergency savings are distributed across the four demographic splits the Fed publishes.
Definition: for each split, divide the highest group’s three-month emergency savings share by the lowest group’s. The RDDI is the equal-weight average of the four ratios. A reading of 1.00 would mean perfect parity.
Formula: RDDI = ( Income ratio + Age ratio + Race/ethnicity ratio + Disability ratio ) ÷ 4
RDDI Components, Baseline Reading (SHED fielded October 2025)
| Component | Calculation | Ratio | Source |
|---|---|---|---|
| Income | 75% ($100k+) ÷ 21% (under $25k) | 3.57 | SHED 2025 Table 27 |
| Age | 71% (60+) ÷ 37% (18 to 29) | 1.92 | SHED 2025 Table 27 |
| Race/ethnicity | 68% (Asian) ÷ 38% (Black) | 1.79 | SHED 2025 Table 27 |
| Disability | 60% (no disability) ÷ 40% (disability) | 1.50 | SHED 2025 Table 27 |
| RDDI | Mean of four ratios | 2.20 | Axis Intelligence Research |
According to Axis Intelligence Research, the RDDI’s baseline reading is 2.20. Income drives it: the income ratio alone is 3.57, nearly double any other component. Because this is the baseline, there is no prior reading to compare; future SHED waves will update it on this page with the same formula.
Sarah Davis: The macro saving rate and the RDDI answer different questions. One says how much the country saves; the other says who is holding it. A 4.1% national rate can coexist with three in four high earners fully cushioned and four in five low earners exposed. Lenders pricing consumer risk, and anyone building a savings product, should be watching the divide more than the average.
How Does the US Savings Rate Compare With Europe and the UK?
| Economy | Latest saving rate | Period | Definition | Source |
|---|---|---|---|---|
| United States | 4.1% | August 2026 | Net saving ÷ disposable income | BEA |
| Euro area | 14.4% | Q2 2026 | Gross saving ÷ gross disposable income | ECB, via Banque de France |
| United Kingdom | 8.8% | Q2 2026 | Saving ÷ gross disposable income plus pension adjustment | ONS |
The euro area gross saving rate slipped from 14.6% in Q1 as consumption outgrew income; the UK ratio rose 0.2 points on stronger non-pension saving.
Do not subtract these numbers from each other. The euro area figure is gross, meaning it includes depreciation on housing and other assets, which mechanically lifts it above a US-style net measure. Axis Intelligence Research declined to compute a cross-country average for that reason; the decision is logged as a retracted row in the dataset. What the table can support is direction: in Q2 2026 the euro area and US rates both eased while the UK’s ticked up.
Methodology
Collection. All figures were retrieved on October 6, 2026 from six primary releases: BEA Personal Income and Outlays for June, July and August 2026; the St. Louis Fed FRED PSAVERT series (BEA source, vintage September 30, 2026); the Federal Reserve Board’s Economic Well-Being of U.S. Households in 2025 report and its press release; the ECB euro area sector accounts release for Q2 2026 as published by the Banque de France on October 2, 2026; and the ONS Quarterly sector accounts for April to June 2026.
Axis calculations. Annual averages are arithmetic means of monthly seasonally adjusted readings. The revision gap is the current FRED estimate minus BEA’s first published value for the same month. The RDDI is the equal-weight mean of four highest-to-lowest ratios from SHED 2025 Table 27; equal weights were chosen so no single dimension is privileged and anyone can recompute or reweight it. The cash-versus-capacity gap is 70% minus 63%.
Scope. BEA saving includes saving by nonprofit institutions serving households and is revised regularly. SHED results are self-reported and reflect October 2025 conditions. International rates use different definitions and are shown side by side, not merged. Figures are nominal unless stated.
About This Dataset
The CSV holds 103 rows: monthly US saving rates for 2019, 2025 and 2026, historical reference points, superseded first prints, BEA income and spending components, SHED emergency savings measures by subgroup, RDDI components and reading, international comparisons and two retracted calculations with reasoning. Every row carries source organization, document, URL, as-of date and retrieval date; Axis-calculated rows include the formula in method_note.
- File: savings-rate-statistics-2026.csv
- License: CC BY 4.0
- Mirrors: Hugging Face, Kaggle, GitHub
Cite This Page
APA: Axis Intelligence Research. (2026). Savings rate statistics 2026. Axis Intelligence. https://axis-intelligence.com/savings-rate-statistics/
MLA: Axis Intelligence Research. “Savings Rate Statistics 2026.” Axis Intelligence, 6 Oct. 2026, axis-intelligence.com/savings-rate-statistics/.
Chicago: Axis Intelligence Research. “Savings Rate Statistics 2026.” Axis Intelligence, October 6, 2026. https://axis-intelligence.com/savings-rate-statistics/.
FAQ
Is a 4.1% saving rate a warning sign for consumer spending?
Not on its own. The 4.1% August 2026 rate reflects a 0.9% spending jump against flat real income. It sits above the 2.4% trough of June 2022, but below the 7.3% average of 2019, so households have less room to keep outspending income.
Why do older articles say the US saving rate was under 3% in summer 2026?
They cite first prints that BEA has since revised. June 2026 was first reported at 2.7% and July at 3.0%; after the September 30 annual update they stand at 4.4% and 4.6%, according to Axis Intelligence Research’s revision analysis.
What share of Americans could survive three months without income?
55% of US adults had set aside three months of expenses in an emergency fund in 2025, per the Federal Reserve. Another group could get there by borrowing or selling assets, while 30% could not cover three months by any means.
Which income group is least prepared for a financial shock?
Adults earning under $25,000: only 21% hold a three-month emergency fund and only 19% always or often have money left over each month, versus 75% and 59% for those earning $100,000 or more.
Why is Europe’s household saving rate so much higher than America’s?
Partly definitions. The euro area’s 14.4% is a gross rate that includes depreciation; the US 4.1% is net. The UK’s 8.8% adds a pension adjustment. The gap is real in direction but overstated in size by the accounting.
What is the Rainy Day Divide Index?
The RDDI is an Axis Intelligence Research measure of emergency-savings inequality: the average ratio between the best- and worst-buffered groups by income, age, race/ethnicity and disability. Its baseline reading is 2.20, built from Federal Reserve SHED 2025 data.
Does having savings actually change how people handle bills?
Yes. In the Fed’s survey, 86% of adults who always have money left over hold a three-month fund versus 13% of those who never do, and 41% of adults cut back on saving to cope with higher prices.
When will the next US saving rate figure be released?
BEA publishes Personal Income and Outlays for September 2026 on October 29, 2026. This page and its dataset update on that release.
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