Who Has Savings in This Economy?

What we’re showing:

A chart visualizing the percentage of respondents to the statement “I have money leftover at the end of the month.” Findings are categorized by age and education qualifications, and are sourced from a National Endowment for Financial Education (NEFE) report.

How was this data collected?

The survey for NEFE was conducted from January 12-14, 2024, by the National Opinion Research Center at the University of Chicago. It involved 1,222 adults aged 18+ and aimed to be representative of the U.S. population.

Key Takeaway

General trends indicate that the older the respondent, the more balanced their finances are. However, higher education dramatically improves chances of extra disposable income. Those with a bachelor’s degree or higher are 3x more likely to have leftover money than those without a High School diploma.

This correlates with higher education qualifications simply earning more. As the Bureau of Labor Statistics notes, earnings improve with every level of education completed. For example, high school diploma holders made 25% more than those without in 2022.