Financial Projections For The World Post-Pandemic
We are saving more for winter
Americans have started saving more money since the pandemic, either by happenstance or on purpose. There’s the reality that consumer spending has dropped tremendously due to lack of access to certain retailers, but there’s also the fact that people are intentionally spending less, even when they do have access, out of fear. The average individual savings rate has shot up to 32.2 percent since the beginning of the pandemic. For context, it was just hovering at 12.7 percent in March.