Comment on How Much Does the Average American Have in Their Savings Account?

How Much Does the Average American Have in Their Savings Account?

This guy looks like he has more than $1,000 in his savings account, but the statistics suggest otherwise. Image source: iStock/Thinkstock.It will probably come as no surprise to you that the average American has less in their savings account than financial planners recommend. According to a new survey by GoBankingRates.com, more than half of Americans have savings account balances below $1,000.That doesn't go far when you consider that even a moderately serious car repair could set you back more than twice that amount -- I would know; I paid for one last week.

 

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