Em in Ohio
Senior Member
- Location
- OH HI OH
(From Accuweather post)
"May 30, 12:12 p.m.
U.S. saving rates have hit 33% in April — a new record high — amid the coronavirus pandemic, according to the U.S. Bureau of Economic Analysis. According to CNBC, this rate, which shows how much people save as a percentage of their disposable income, is the highest since tracking began by the department in the 1960s. This number nearly triple the amount of March’s 12.7% saving rate. With the record savings rate, spending declined by a record 13.6% in the month of April. “The saving rate is the residual of an extraordinary event,” Diane Swonk, chief economist at Grant Thornton, told CNBC."
I have zero disposable income. My April credit card spending was also zero and my bills are paid! I'm not exactly contributing to rebuilding the economy, but it is nice to see minimal cash depletion.
Perhaps our priorities have changed and we have discovered that we can get by without 'luxuries.'
"May 30, 12:12 p.m.
U.S. saving rates have hit 33% in April — a new record high — amid the coronavirus pandemic, according to the U.S. Bureau of Economic Analysis. According to CNBC, this rate, which shows how much people save as a percentage of their disposable income, is the highest since tracking began by the department in the 1960s. This number nearly triple the amount of March’s 12.7% saving rate. With the record savings rate, spending declined by a record 13.6% in the month of April. “The saving rate is the residual of an extraordinary event,” Diane Swonk, chief economist at Grant Thornton, told CNBC."
I have zero disposable income. My April credit card spending was also zero and my bills are paid! I'm not exactly contributing to rebuilding the economy, but it is nice to see minimal cash depletion.
Perhaps our priorities have changed and we have discovered that we can get by without 'luxuries.'