Over the past year and several months we have seen the biggest changes to the US personal saving rate. Most Americans never pay attention to this statistic or related details about saving rate in general, but things have changed drastically due to the pandemic – more and more people are now paying attention! The media certainly is with new updates about the average saving rate being published monthly! But, what exactly does saving rate mean, and what are these changes that have taken us all by surprise? Find out the details and more in this week’s FinCap Friday below:
About the Author
Yanely Espinal
Born and raised by Dominican, immigrant parents in Brooklyn, Yanely is a proud product of NYC public schools. She graduated from Fiorello H. LaGuardia High School in 2007 before going on to receive her bachelor’s degree at Brown University in 2011. As a Teach For America corps member, Yanely taught third and fourth grade in Canarsie, Brooklyn. She received her master’s degree from Relay Graduate School of Education in 2013. She spends her spare time making YouTube videos about personal finance on her channel, MissBeHelpful. Yanely also loves to dance, sew, paint, listen to podcasts, and babysit her soon-to-be 7 nieces and nephews!
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