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    Household savings are thinning. Here’s how to put money back in your pocket.

    • July 22, 2024

    People aren’t boosting their savings much even as wages rise and inflation slows.

    Households socked away about 3.9% of their disposable income as of May, the latest federal data shows, down from 5.3% in May of last year, when consumer price increases and the job market were both running hotter. Today, the savings rate is back down to around its levels two years ago after falling from pandemic peaks north of 24%, and remains lower than the 7% range in 2019.

    Blame it on steep living costs and high interest rates that have made it tough to save in an otherwise strong economy.

    This post appeared first on NBC NEWS

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      Popular Topics
      • Qantas cyber hack could have stolen ‘significant’ amount of data from six million customers
      • K-pop superstars BTS announce end of hiatus with a new album and world tour in 2026
      • Probe into Biden’s alleged mental decline cover-up deepens with more former White House officials to testify
      • MAGA law group fights to expose how Biden’s DEI agenda may have tainted life-saving organ transplants
      • Israel accepts Trump-led ceasefire plan that could end Gaza war within 60 days
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