Average savings across the globe - page 7.

Polo7

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Quote from: adzino on September 10, 2019, 03:52:42 PM

Quote from: Polo7 on September 10, 2019, 05:47:47 AM

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

Interesting list, but I wonder based on what that list has been made or how those data were collected. Anyways, you can't compare which country is rich based on personal savings. The personal savings of a country depends on various factors such as interest rates, future expected profit, future inflation and other tons of other stuffs. If people see that there is an opportunity to make some good profit due to some reason or event taking place, people won't be keeping their money in the bank. They would rather start investing in order to maximized their future profit. So a country with good economy might also have a low personal savings. Remember though, this low savings will eventually reach equilibrium in the long run.

I Think the list is pretty accurate
Countries Where savings low People are in debted highly too.

Some countries People live in -200 a Monthly like it means Every Monthly they have missing some ammount of money in Order to survive someone have borrow the money!

adzino

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Quote from: Polo7 on September 10, 2019, 05:47:47 AM

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

Interesting list, but I wonder based on what that list has been made or how those data were collected. Anyways, you can't compare which country is rich based on personal savings. The personal savings of a country depends on various factors such as interest rates, future expected profit, future inflation and other tons of other stuffs. If people see that there is an opportunity to make some good profit due to some reason or event taking place, people won't be keeping their money in the bank. They would rather start investing in order to maximized their future profit. So a country with good economy might also have a low personal savings. Remember though, this low savings will eventually reach equilibrium in the long run.

Febo

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Quote from: Polo7 on September 10, 2019, 05:47:47 AM

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

Problem is that whole Keynesian economic model is build to promote debt and punish savings. That is what governments did in last 50 years and more. Of course that people slowly took that as the truth and started doing same. Now with negative interest rates will be even much worse.

jhongzjhong

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They are so lucky to have savings. Anyway, in my country almost 70% of our populations are poor so you don't need to expect that they have savings. Well, the reason is that they have a lot of kids but they are only earning a minimum wage so there is 0% of chances to get rich and have more savings.

avikz

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Quote from: mersal on September 10, 2019, 01:05:25 PM

Quote from: Oilacris on September 10, 2019, 12:46:58 PM

Quote from: mersal on September 10, 2019, 11:39:25 AM

Quote from: Polo7 on September 10, 2019, 05:48:53 AM

Switzerland $58,389 19.03% $11,109.09 $925.76 $30.44 $1.27

Switzerland People save most money!

It is easy to manage a country in the healthy wau if the population is very low so we cannot compare the countries with huge population and very few thousand populated country.

Yeah,i was supposed to say about the difference of population numbers. I don't mind or easily believe about average savings across the globe yet

there are even people on some countries specially 3rd world ones doesn't even have a savings and do have a hard time on completing their 3 meals a day.
How much more on thinking to have a bank savings which isn't really that possible.

For countries mentioned above,i don't have idea that Americans do have that kind of average savings.

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.But America still not the best GDP even they claim that they are the super power in this whole world and the same thing happens with China as well.

So governments are making few people rich and demanding taxes from everyone keep the others poor.

And that's the whole reason why professionals from India is hired big time by these American companies! A lot of American companies open up their subsidiaries in a country like India or Philippines and move their back-office related work because it saves a lot of money for them. Business wise, it makes a lot of sense! Canada may be leading in the list of personal savings but Qatar leads in the list of per capita income! American leads in fire power only!

Polo7

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Norway and Australia are the Same level on savings thing!

mersal

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Quote from: Oilacris on September 10, 2019, 12:46:58 PM

Quote from: mersal on September 10, 2019, 11:39:25 AM

Quote from: Polo7 on September 10, 2019, 05:48:53 AM

Switzerland $58,389 19.03% $11,109.09 $925.76 $30.44 $1.27

Switzerland People save most money!

It is easy to manage a country in the healthy wau if the population is very low so we cannot compare the countries with huge population and very few thousand populated country.

Yeah,i was supposed to say about the difference of population numbers. I don't mind or easily believe about average savings across the globe yet

there are even people on some countries specially 3rd world ones doesn't even have a savings and do have a hard time on completing their 3 meals a day.
How much more on thinking to have a bank savings which isn't really that possible.

For countries mentioned above,i don't have idea that Americans do have that kind of average savings.

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.But America still not the best GDP even they claim that they are the super power in this whole world and the same thing happens with China as well.

So governments are making few people rich and demanding taxes from everyone keep the others poor.

Oilacris

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Quote from: mersal on September 10, 2019, 11:39:25 AM

Quote from: Polo7 on September 10, 2019, 05:48:53 AM

Switzerland $58,389 19.03% $11,109.09 $925.76 $30.44 $1.27

Switzerland People save most money!

It is easy to manage a country in the healthy wau if the population is very low so we cannot compare the countries with huge population and very few thousand populated country.

Yeah,i was supposed to say about the difference of population numbers. I don't mind or easily believe about average savings across the globe yet

there are even people on some countries specially 3rd world ones doesn't even have a savings and do have a hard time on completing their 3 meals a day.
How much more on thinking to have a bank savings which isn't really that possible.

For countries mentioned above,i don't have idea that Americans do have that kind of average savings.

mersal

member

Activity: 1204

Merit: 38

Quote from: Polo7 on September 10, 2019, 05:48:53 AM

Switzerland $58,389 19.03% $11,109.09 $925.76 $30.44 $1.27

Switzerland People save most money!

It is easy to manage a country in the healthy wau if the population is very low so we cannot compare the countries with huge population and very few thousand populated country.

eternalgloom

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Quote from: ichai on September 10, 2019, 09:04:57 AM

That's why Americans are always very rich and their GDP is increasing every year. because they never let their money lose value every year due to inflation.
We really need to learn about effective ways to invest so our money doesn't lose value over the years.

Well, you actually do need a pretty significant emergency fund that you can easily access.
Especially in the US I'd say.

If they run into any medical issues which aren't covered by their insurance, they're pretty much bankrupt.
If they even have insurance in the first place, that is...

gentlemand

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Quote from: ichai on September 10, 2019, 09:04:57 AM

That's why Americans are always very rich and their GDP is increasing every year. because they never let their money lose value every year due to inflation.
We really need to learn about effective ways to invest so our money doesn't lose value over the years.

Most Americans are on their broke arse like most other places.

Of the people I know there's little middle ground. There are either people who could last for years without working and the others wouldn't last to the end of the day.

One thing I do find a bit silly about these surveys is they never take into account possessions and assets. Most people will have something they can get rid of in difficult times, that's if it wasn't financed.

ichai

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Quote from: Polo7 on September 10, 2019, 05:47:47 AM

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

That's why Americans are always very rich and their GDP is increasing every year. because they never let their money lose value every year due to inflation.
We really need to learn about effective ways to invest so our money doesn't lose value over the years.

Indamuck

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A lot of people are in debt, so consider yourself lucky if you have any savings I guess. and some people wonder why consumer spending is way down and many companies are going out of business. We are more productive then ever but the wealth inequality keeps getting stronger.

Polo7

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Switzerland $58,389 19.03% $11,109.09 $925.76 $30.44 $1.27

Switzerland People save most money!

Polo7

jr. member

Activity: 392

Merit: 7

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

Topic: Average savings across the globe - page 7. (Read 3939 times)