Sonam Capital’s Post

Household #savings well below long-term average In a sign of how tight a lot of people’s #finances are right now, the average household saved just 0.6% of their income during the June quarter, according to the latest data from the Australian Bureau of Statistics. Back in the pandemic year of 2020, when people were locked inside their homes and interest rates were at record-low levels, households cut back on their spending, with the result that the #household saving ratio reached a record-high 24.1%. However, since then, as the graph shows, saving has been trending down, in large part due to higher rates and cost-of-living pressures. Since the year 2000, the average household saving ratio has been 5.0%, so the current level of saving is below the long-term average. That said, during that time, there have been 14 quarters when the household saving rate has been negative, so people are doing a better job of saving than in some periods. With inflation falling and – potentially – a rate cut on the horizon, it wouldn’t be surprising if saving increased soon. #economy #homeloans #money

Household savings well below long-term average In a sign of how tight a lot of people’s finances are right now, the average household saved just 0.6% of their income during the June quarter, according to the latest data from the Australian Bureau of Statistics. Back in the pandemic year of 2020, when people were locked inside their homes and interest rates were at record-low levels, households cut back on their spending, with the result that the household saving ratio reached a record-high 24.1%. However, since then, as the graph shows, saving has been trending down, in large part due to higher rates and cost-of-living pressures. Since the year 2000, the average household saving ratio has been 5.0%, so the current level of saving is below the long-term average. That said, during that time, there have been 14 quarters when the household saving rate has been negative, so people are doing a better job of saving than in some periods. With inflation falling and – potentially – a rate cut on the horizon, it wouldn’t be surprising if saving increased soon. #economy #homeloans #money #therentalspecialists

Household savings well below long-term average In a sign of how tight a lot of people’s finances are right now, the average household saved just 0.6% of their income during the June quarter, according to the latest data from the Australian Bureau of Statistics. Back in the pandemic year of 2020, when people were locked inside their homes and interest rates were at record-low levels, households cut back on their spending, with the result that the household saving ratio reached a record-high 24.1%. However, since then, as the graph shows, saving has been trending down, in large part due to higher rates and cost-of-living pressures. Since the year 2000, the average household saving ratio has been 5.0%, so the current level of saving is below the long-term average. That said, during that time, there have been 14 quarters when the household saving rate has been negative, so people are doing a better job of saving than in some periods. With inflation falling and – potentially – a rate cut on the horizon, it wouldn’t be surprising if saving increased soon. #economy #homeloans #money #therentalspecialists

Household savings well below long-term average In a sign of how tight a lot of people’s finances are right now, the average household saved just 0.6% of their income during the June quarter, according to the latest data from the Australian Bureau of Statistics. Back in the pandemic year of 2020, when people were locked inside their homes and interest rates were at record-low levels, households cut back on their spending, with the result that the household saving ratio reached a record-high 24.1%. However, since then, as the graph shows, saving has been trending down, in large part due to higher rates and cost-of-living pressures. Since the year 2000, the average household saving ratio has been 5.0%, so the current level of saving is below the long-term average. That said, during that time, there have been 14 quarters when the household saving rate has been negative, so people are doing a better job of saving than in some periods. With inflation falling and – potentially – a rate cut on the horizon, it wouldn’t be surprising if saving increased soon. #economy #homeloans #money

Household savings well below long-term average In a sign of how tight a lot of people’s finances are right now, the average household saved just 0.6% of their income during the June quarter, according to the latest data from the Australian Bureau of Statistics. Back in the pandemic year of 2020, when people were locked inside their homes and interest rates were at record-low levels, households cut back on their spending, with the result that the household saving ratio reached a record-high 24.1%. However, since then, as the graph shows, saving has been trending down, in large part due to higher rates and cost-of-living pressures. Since the year 2000, the average household saving ratio has been 5.0%, so the current level of saving is below the long-term average. That said, during that time, there have been 14 quarters when the household saving rate has been negative, so people are doing a better job of saving than in some periods. With inflation falling and – potentially – a rate cut on the horizon, it wouldn’t be surprising if saving increased soon. #economy #homeloans #money

Household savings well below long-term average In a sign of how tight a lot of people’s finances are right now, the average household saved just 0.6% of their income during the June quarter, according to the latest data from the Australian Bureau of Statistics. Back in the pandemic year of 2020, when people were locked inside their homes and interest rates were at record-low levels, households cut back on their spending, with the result that the household saving ratio reached a record-high 24.1%. However, since then, as the graph shows, saving has been trending down, in large part due to higher rates and cost-of-living pressures. Since the year 2000, the average household saving ratio has been 5.0%, so the current level of saving is below the long-term average. That said, during that time, there have been 14 quarters when the household saving rate has been negative, so people are doing a better job of saving than in some periods. With inflation falling and – potentially – a rate cut on the horizon, it wouldn’t be surprising if saving increased soon. #economy #homeloans #money

Household savings well below long-term average In a sign of how tight a lot of people’s finances are right now, the average household saved just 0.6% of their income during the June quarter, according to the latest data from the Australian Bureau of Statistics. Back in the pandemic year of 2020, when people were locked inside their homes and interest rates were at record-low levels, households cut back on their spending, with the result that the household saving ratio reached a record-high 24.1%. However, since then, as the graph shows, saving has been trending down, in large part due to higher rates and cost-of-living pressures. Since the year 2000, the average household saving ratio has been 5.0%, so the current level of saving is below the long-term average. That said, during that time, there have been 14 quarters when the household saving rate has been negative, so people are doing a better job of saving than in some periods. With inflation falling and – potentially – a rate cut on the horizon, it wouldn’t be surprising if saving increased soon. #economy #homeloans #money

Household savings well below long-term average In a sign of how tight a lot of people’s finances are right now, the average household saved just 0.6% of their income during the June quarter, according to the latest data from the Australian Bureau of Statistics. Back in the pandemic year of 2020, when people were locked inside their homes and interest rates were at record-low levels, households cut back on their spending, with the result that the household saving ratio reached a record-high 24.1%. However, since then, as the graph shows, saving has been trending down, in large part due to higher rates and cost-of-living pressures. Since the year 2000, the average household saving ratio has been 5.0%, so the current level of saving is below the long-term average. That said, during that time, there have been 14 quarters when the household saving rate has been negative, so people are doing a better job of saving than in some periods. With inflation falling and – potentially – a rate cut on the horizon, it wouldn’t be surprising if saving increased soon. #economy #homeloans #money 

Household savings well below long-term average In a sign of how tight a lot of people’s finances are right now, the average household saved just 0.6% of their income during the June quarter, according to the latest data from the Australian Bureau of Statistics. Back in the pandemic year of 2020, when people were locked inside their homes and interest rates were at record-low levels, households cut back on their spending, with the result that the household saving ratio reached a record-high 24.1%. However, since then, as the graph shows, saving has been trending down, in large part due to higher rates and cost-of-living pressures. Since the year 2000, the average household saving ratio has been 5.0%, so the current level of saving is below the long-term average. That said, during that time, there have been 14 quarters when the household saving rate has been negative, so people are doing a better job of saving than in some periods. With inflation falling and – potentially – a rate cut on the horizon, it wouldn’t be surprising if saving increased soon. #economy #homeloans #money

Household savings well below long-term average In a sign of how tight a lot of people’s finances are right now, the average household saved just 0.6% of their income during the June quarter, according to the latest data from the Australian Bureau of Statistics. Back in the pandemic year of 2020, when people were locked inside their homes and interest rates were at record-low levels, households cut back on their spending, with the result that the household saving ratio reached a record-high 24.1%. However, since then, as the graph shows, saving has been trending down, in large part due to higher rates and cost-of-living pressures. Since the year 2000, the average household saving ratio has been 5.0%, so the current level of saving is below the long-term average. That said, during that time, there have been 14 quarters when the household saving rate has been negative, so people are doing a better job of saving than in some periods. With inflation falling and – potentially – a rate cut on the horizon, it wouldn’t be surprising if saving increased soon. #economy #homeloans #money