What is the average amount of money a person saves?
This data is the latest available from this source but is from 2019, and some sources put average savings even higher: Northwestern Mutual's 2022 Planning ɪmp; Progress Study revealed that the average amount of personal savings (not including investments) was $62,086 in 2022.
How much savings is a good amount?
Most financial experts end up suggesting you need a cash stash equal to six months of expenses: If you need $5,000 to survive every month, save $30,000. Personal finance guru Suze Orman advises an eight-month emergency fund because that's about how long it takes the average person to find a job.
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