Average savings across the globe

[bittraffic]

This is why there are people in US now prefer to live in a smallspace house, you barely can lie straight but they build these kind of houses for people who wants to save.
But then the cost of living is pressuring as if the live in Tokyo specially in big cities in US.  Saving money is hard when you are single and wants to enjoy life, even harder when you have mouths to feed.

But if you live your life like every day is the last, why save?
You can gamble, fuck all the hookers you can find all night and be merry. Its not like you can bring those money to the grave.

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[Polo7]

This is why there are people in US now prefer to live in a smallspace house, you barely can lie straight but they build these kind of houses for people who wants to save.
But then the cost of living is pressuring as if the live in Tokyo specially in big cities in US.  Saving money is hard when you are single and wants to enjoy life, even harder when you have mouths to feed.

But if you live your life like every day is the last, why save?
You can gamble, fuck all the hookers you can find all night and be merry. Its not like you can bring those money to the grave.

Yes but savings are resources.

But sure If You are Young and full of energy Why not to enjoy the life fullest! 


If I can save 1000 month then its a point.
If in can save 100-200 month That's small money to save!

[davinchi]

When a country has too many super rich people they also have a lot of poor people, when a country doesn't have too many super rich people than the public is better for it, I believe that is the whole point of this discussion.

Look at Sweden for example, they have IKEA and the dude is not really as rich as you might have imagined. He has places all around the world but not even in top 5 richest people in the world. That is why if you really look at the table you will see that places with poor people have highest number of billionaires and the places with least amount of poor people have the highest savings average.

Swiss people are doing it a bit hardcore tho, I mean saving up %20 of all your money does sound like way too much If you are rich enough to save that much maybe there should be more taxes to help other people even more?

[Polo7]

When a country has too many super rich people they also have a lot of poor people, when a country doesn't have too many super rich people than the public is better for it, I believe that is the whole point of this discussion.

Look at Sweden for example, they have IKEA and the dude is not really as rich as you might have imagined. He has places all around the world but not even in top 5 richest people in the world. That is why if you really look at the table you will see that places with poor people have highest number of billionaires and the places with least amount of poor people have the highest savings average.

Swiss people are doing it a bit hardcore tho, I mean saving up %20 of all your money does sound like way too much If you are rich enough to save that much maybe there should be more taxes to help other people even more?

Rich people want to enjoy the life the life and not Thinking about money!
That's Why they want to be Rich, poor is Only one who daily Thinking about getting money!

[bryant.coleman]

Switzerland   $58,389   19.03%   $11,109.09   $925.76   $30.44   $1.27
Switzerland People save most money!

Not very surprising. Switzerland is a libertarian country and the government does not indulge in populism by giving out freebies. The tax rates are not very low, but salaries are high enough to neutralize any impact that comes from the taxes. Also, unlike the neighboring nations such as France and Germany, the Swiss government don't waste their revenue on third world immigrants. The revenue is used for infrastructure development and other sectors within the country, rather than encouraging third world immigration.

Also, the Swiss authorities don't force the citizens to shed their anonymity. Even now they have the CHF 1,000 banknote, which remains as one of the largest denomination banknotes around the world. It is a country where personal freedom and privacy is respected, unlike the case with countries such as the United States where the authorities spy on each and every resident.

[Janation]

I can verify that we Filipinos are not that good in saving.

We are a third world country and despite that we save, most of them went on being spent on things, essential things but sometimes things that don't really are needed and wanted.

I think that would be a 90% spent and 10% saved, though that saved part would be also parted since that 90% would not be enough to be spent.

[pieppiep]

This is why there are people in US now prefer to live in a smallspace house, you barely can lie straight but they build these kind of houses for people who wants to save.
But then the cost of living is pressuring as if the live in Tokyo specially in big cities in US.  Saving money is hard when you are single and wants to enjoy life, even harder when you have mouths to feed.

But if you live your life like every day is the last, why save?
You can gamble, fuck all the hookers you can find all night and be merry. Its not like you can bring those money to the grave.

Yes but savings are resources.

But sure If You are Young and full of energy Why not to enjoy the life fullest! 


If I can save 1000 month then its a point.
If in can save 100-200 month That's small money to save!

When you want to do the saving, then you must do it when you get the money. Pick the amount of money that you want to save and separate that money from the other money. If you can do that in monthly, then your saving will be bigger no matter how much money you can save in monthly. You don't have to feel about that is small money or big money, as long as you can do that by monthly, I am sure that in some time, you will amaze of what you've done.

Saving $1000 by monthly will be better, but that is if you have a bigger income. But unfortunately, only people who have a bigger income that can do that. But there are many ways that we can do to start saving.

I think saving will be necessary for your life and don't think that your life will end by today, but you should have a dream that you want to reach so that will motivate you to keep doing what you think is right. Besides that, you will have more power to survive and struggle to get more money for your life.

[RapTarX]

If someone from India and USA doing the same job but their salary will be huge in difference so where they born is really matter to decide how good they are financially.

Did you mean same job in the same place? Or one from USA and one from India. If they are not in the same place, please do account of average living cost/standard as well. You know both the country has a huge difference in living cost. Therefore, it is basically pulling back to the same.
Macroeconomy is a combination of a lot of factors, you can't conclude anything with one or two single factors.

[RealMalatesta]

This is why there are people in US now prefer to live in a smallspace house, you barely can lie straight but they build these kind of houses for people who wants to save.
But then the cost of living is pressuring as if the live in Tokyo specially in big cities in US.  Saving money is hard when you are single and wants to enjoy life, even harder when you have mouths to feed.

But if you live your life like every day is the last, why save?
You can gamble, fuck all the hookers you can find all night and be merry. Its not like you can bring those money to the grave.

You cannot bring all the money to the grave, but you have to save to some extent where your future will be guaranteed. In some countries, you will see the way the retirees are suffering despite their pension money, it is because they have no saving to hold for their old age.

Imagine that person earning $58000 and able to save just $110000, if he has 20 years to just work, and after that 20 years, he would still be used to that life of spending that $47000, so how do you expect him to meet up or cope after retirement. When you see people save, it is not because of now, but because of future, those hookers will not be there for you in future when you have no money again, and you have to be running round and begging friends to feed your mouth.

[freedomgo]

No wonder some people in our country go abroad to find job due to a high  annual average of salary in good countries.
When it comes to savings, this really depends on how people handles their finances but what is attractive here is the country with good salary.

I'd like to thank you for sharing this article, I was right that USA gives the highest salary but people are big spenders also. I'm not from USA so I will just do some guessing, maybe the reason why they have a low percentage of savings is because there's a lot of things in USA that is worth spending, so I'd like to believe that living in USA as long as you have a job, you will have a quality life as after all as long as you have a health insurance, you won't have to spend much for medical treatment and your job guarantees you a retirement money if you get old and retired.

[Bitcoin Smith]

The average personal amount of savings are between $ 2,900 for the USA and ¥ 5,806,554 for Japan. The USA comes last in our ranking, but their neighbor Canada is one of the richest countries regarding personal savings.




https://www.expertmarket.com/focus/research/countries-that-save-the-most-money

when this world is getting better and better the people thought we also need to be richer in this world that's why I think the savings are doing the best in the situation and it also appreciated by each and everyone in this world to make it more useful

[TheCoinGrabber]

I can verify that we Filipinos are not that good in saving.

We are a third world country and despite that we save, most of them went on being spent on things, essential things but sometimes things that don't really are needed and wanted.

I think that would be a 90% spent and 10% saved, though that saved part would be also parted since that 90% would not be enough to be spent.

I think we're getting there. I see a lot of people in banks doing deposits. Sure many of those are probably not for their accounts but I believe the saving rate is slowly increasing.

[fiulpro]

Instead of getting data like this we should more or so take some survey because these kind of data can be misleading since we should understand that the average person saves a lot less as it is written down here and it changes everything when we consider the average the rich all summed up together..

This data is highly misleading I think .
The bank deposits cannot identify a local person's Savings .

[pixie85]

If someone from India and USA doing the same job but their salary will be huge in difference so where they born is really matter to decide how good they are financially.

Did you mean same job in the same place? Or one from USA and one from India. If they are not in the same place, please do account of average living cost/standard as well. You know both the country has a huge difference in living cost. Therefore, it is basically pulling back to the same.
Macroeconomy is a combination of a lot of factors, you can't conclude anything with one or two single factors.

The place where you spend your income makes a big difference. 20 dollars a day would be a disaster for an American but something normal for someone in India but the key factor is that for 5 dollars you can take your whole family to a restaurant in India and in the USA you'll get a big mac with fries for that.

How much you're spending depends on the economy and your mindset. If you live in a poor country or a country with problems like Greece or Venezuela you won't be saving even if you have a saver's mindset.

[Vishnu.Reang]

I am not sure whether this is a very accurate description, as the purchasing power can very from country to country. A person can retire with $50,000 in rural India, but in Japan even 20 times of that amount may not last for more than one or two decades. So rather than measuring the savings using the same metric, it could have been better to use the purchasing power as the measurement unit.

[Polo7]

There ise Other point too

How wealthy u are based of fact the asset You own.

The average Canadian own 40k. Value assets.

[STT]

one of the richest countries regarding personal savings

This cant be looked in isolation because national debt also puts people in debt despite their personal savings.   For UK I see they are losing money not saving annually, a weak currency might have caused that partly because it helps to raise costs but in any case I think the national debt per person is 74,000 which means a considerable amount of personal savings is required to say you are well off at all.

Same for Japan and USA both have very large amount of debt owed in their name via government,  Norway has a wealth fund which gives a net wealth of well over 50,000 per person.     Also Greece most famously has a giant amount of debt, enough to bankrupt the entire country.
   In theory the government can default on its debt but this situation could easily wipe out personal savings especially where the cash is saved in national currency.   Thats why I mention it as very relevant information to keep track of but this article makes no mention unfortunately.   A dangerous blindspot in our common vision is that alot of us stand to get wiped out in the worst case scenario.

[bitgolden]

I'd like to thank you for sharing this article, I was right that USA gives the highest salary but people are big spenders also. I'm not from USA so I will just do some guessing, maybe the reason why they have a low percentage of savings is because there's a lot of things in USA that is worth spending, so I'd like to believe that living in USA as long as you have a job, you will have a quality life as after all as long as you have a health insurance, you won't have to spend much for medical treatment and your job guarantees you a retirement money if you get old and retired.

Retirement is a different scenario in many places of the world.

For example, in my country there is a forced retirement fund for everyone, a worker gets less money for their salary and government taxes the company for it and that tax goes to a fund. That fund is used for stuff of course and tries to be even more, they don't even have to put it on stocks or anything, they can make a bridge with that tax and than charge everyone a toll for going through that bridge and still make more profits forever instead of just putting that money into some boring stuff since they are literally the government.

After certain years you earn a chance to start getting paid for it which is your retirement, you can't just get it whenever you want, you have to reach a certain age for it.

[xSkylarx]

Sadly here in the Philippines, a typical Filipino only saves $100 for their future. Some Filipino here are one-day millionaire, when they receive their salary they buy things they don't really need and in the long run they go in debt. Also one of the reason why only few people can really save for their future here is the salary, what they earn is just enough to provide the needs of their family so some goes to abroad just to earn more.

https://www.esquiremag.ph/money/wealth/how-much-is-in-a-typical-filipino-s-bank-balance-a00287-20190208

[FanEagle]

Average savings depends on how much a person gets salary and how hard the living costs are. So for example, in high end countries people get a decent wage and things do not cost that much, it still costs more than the poor countries but at the same time you are getting much more salary.

For example, if you live in USA and make 10k per month but spend 8k per month that means you are saving 2k per month, now in smaller country people make 300 dollars a month and spend 350 dollars a month (personally those are really my finances) which means they do not have 8k costs which is great but they do not have 10k salary neither so they are still poor. That is why there is such a big difference between poor and rich countries and their savings difference as well.