Global Saving statistics
Australians will save $2,716 less than they did in 2021. See how they compare to other countries.
Key takeaways
- Australian households are forecast to save just 4.8% of disposable income in 2025, a significant drop from 15% in 2020.
- Australia ranks 18th among OECD nations in 2025 predicted savings with $2,897, far behind Switzerland's $12,957.
- With average household savings dropping by $4,971 since 2021, explore high-interest accounts to boost your returns.
Savings may have skyrocketed over the course of the pandemic, but the cost of living worldwide has increased significantly. The average household savings among Organisation for Economic Cooperation and Development (OECD) nations is predicted to dip by 6.9 percentage points from 2021 to 2025, according to Finder's analysis of data from the OECD.
Key statistics
18th for predicted 2025 savings rate
4.8% of household disposable income will be set aside as savings
$9,252 in savings per Australian household by year-end
Quick summary:
- Australia ranks 18th for predicted savings, behind Germany and Canada, but ahead of the US and New Zealand.
- Households will save about 4.8% of their disposable income in 2025, higher than the global average of 6.9%.
- Australians savings rate dropped significantly from 15% in 2020.
- Aussie household savings average at around $2,716 in 2024, $6,000 less than they would have saved in 2020.
- Household savings are predicted to drop by an average of $1,537 across OECD nations.
Drop in Australian household savings
- Australian households are expected to save 4.8% of their disposable income in 2025.
- With an average disposable income of $39,871, this means that Aussie households are setting aside $2,897 for their savings in 2025.
- Although this ranks Australia in the top 10 savers according to the OECD, it's a significant drop from their actual savings pre-pandemic of 15%.
How Australia compares to the rest of the world
- On average, households in countries included in the OECD are expected to save about 6.9% of their disposable income in 2025
- Leading the way are the Swiss who are forecasted to save a fifth (18.4%) of their household income. This is followed by Sweden at 15.9% and Luxembourg at 12.4%.
- In Australian dollars, this means the Swiss are saving an estimated $12,957 on average this year. Luxembourgers don't fall too far behind at $9,080, followed by the Swedes at $7,972.
- Countries and regions on par with the global average are Austria, Slovenia, Estonia and the Euro Area whose households are expected to save around 7% of their income.
- At the other end of the spectrum, Kiwi adults are expected to have no savings in 2025. In fact, households in New Zealand may end up with debts equal to 4.9% of their income, or about -$1,942. Similarly, Latvians are predicted to go into debt by 0.8%, or $257, and Finns by 0.4%, or $223.
Global drop in household savings
- Globally, households are saving about 3 percentage points less of their disposable income now than they would have in 2021. In 2024, household savings averaged 7%, much higher compared to the predicted 6% for 2023.
- This means savings dropped by an average of $932 across the OECD nations.
- Ireland is expected to see the biggest drop in savings from 15.7% down to just 5.2%. That's equivalent to $4,443 less in savings than they would have in 2021.
- This is followed by New Zealand (-8.4% or $3,363), Australia (-8.2% or $4,971), and the United States (-7.2% or $6,317).
- Hungary (0.6%), Slovak Republic (1.2%) and the Spain (1.6%) are projected to have the smallest drops.
Sources
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