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How Much Did You Save in 2013?

April 21st, 2014 by 
PK

Some of our longer term readers enjoy this time of year on DQYDJ, because we post a Personal Finance article actually directed inwardly - namely, an expose of the PK household spending habits.

We appreciate being held accountable on this front - it's hard to trust random voices on the internet, so only by looking at results and history can you truly level a fair judgement.  We wouldn't want you to blindly trust us if we were secretly part of that oh-so-annoying "fake it until you make it" crowd.

So, today we share wit you and we ask: how much did you save in 2013?

(And yes, long term readers also know that we use a controversial calculation of savings - not including principal paydown in our totals, .  We know it underestimates the true amount but we're sticking to it - unlike Federal Agencies, we'll keep our methodology constant.)

PK Household Savings Rate, Last 9 Years

Net savings rate - so get rid of that tax you paid to compare.

pksavings2013

Tabular form:

Year200520062007200820092010201120122013
Savings Rate (Strict)6.91%11.02%31.63%27.31%21.68%21.47%22.96%23.99%29.68%

How Did We Do?

Good?  Bad?  Middling?

We've got a few benchmarks here.  Let's play.

The Good.

First, you've got the overall savings rate in the US, which was in the low to mid 4%s through 2013.  Of course, that doesn't factor in whether folks are in a position to save - don't want to be comparing savings rates to students in college or retirees now, do we?

The Middling.

Our results by household income and age are mixed.  Those calculators are here:

The Bad.  (The Ugly?)

Here in the Personal Finance Sphere, our combination of a strict calculation and including both the income of my wife and myself probably leaves 29.68% on the low end of reported savings rates.

Of course, that discounts the savings rates of the many bloggers which don't report - so we won't be losing any sleep over this one.

How Did You Do?

Let's play the voyeur, if only for one day: how did you do in 2013?  Rough year?  Good year?

And, of course, if you haven't seen it - we have an infamous calculator which links savings rate to retirement date - enjoy that!

Don't Quit Your Day Job...

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