The ongoing economic effects of the Covid-19 pandemic have taken a bite out of Americans' savings.
The ongoing economic effects of the Covid-19 pandemic have taken a bite out of Americans' savings.
The average amount of personal savings dropped 15% from $73,100 in 2021 to $62,086 in 2022, according to Northwestern Mutual's recentannual study was conducted by The Harris Poll between Feb. 8 and Feb. 17 of this year, with data pulled from responses from 2,381 American adults. "There could be several factors contributing to the drop in savings from last year, ranging from spiking inflation to people spending more as they resume some sense of normalcy in their lives," Northwestern Mutual chief customer officer Christian Mitchell said in a
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