How much does the average person have in savings?

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asked Feb 22, 2020 in Other-Finance by 20Jero (200 points)
How much does the average person have in savings?

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answered Feb 22, 2020 by Oliphant (6,990 points)
The average person has around $11,000.00 to $15,000.00 in savings.

That is for those that don't earn a lot of money on their jobs so they cannot put a whole lot of money into savings.

But having something in savings accounts is better than having no money in a savings account.

Even if you put $100.00 per month out of your paycheck into savings you could have $1,200.00 in a year saved.

So while it's not all that much even $1,200.00 in a year could get you by for at least a little while even if you had to cut out a lot of other expenses.

If you earn more money it's best to put around $500.00 to $1,000.00 per month into a savings account if you earn enough to do so.

Not everyone earns enough to put a lot into savings and some people don't earn enough money to have any savings.

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