WTOP After COVID restrictions lifted, many of us made up for lost time by shopping, leading to a trend known as “revenge spending.”
Now, with uncertainty surrounding the economy, it appears many are turning in the opposite direction and putting a focus on saving.
According to a report by the Bureau of Economic Analysis released last week, the personal savings rate increased to 4.9% in April from 4.1% in January, which shows how much Americans are saving their money after the pandemic and in the face of ever-changing tariff policies.