The savings of French households can be measured in several ways: the monthly amount set aside, the savings rate relative to disposable income, or the net financial wealth accumulated. These three indicators vary greatly by age, but also according to factors that national averages obscure, such as the place of residence or the amounts left dormant in a checking account.
Cash dormant in checking accounts, a blind spot in age-related savings statistics
Most age group comparisons aggregate regulated savings accounts, life insurance, financial investments, and real estate. They overlook a rapidly growing category: money tied up in checking accounts.
Read also : Why the Skin of My Tomatoes is Thick: Causes and Tips to Remedy It
According to an analysis of data from the Banque de France and INSEE reported by MoneyVox, the average amount held in checking accounts rose from just under 4,000 euros in 2015 to nearly 8,000 euros in the summer of 2022. This non-interest-bearing sum generally does not appear in age breakdowns published by consumer websites.
To understand the average savings of the French by age, it is essential to keep in mind that the usual figures underestimate the actual cash reserves of households, particularly among young workers who concentrate a significant portion of their savings in their main account.
Further reading : Discover who is behind the manufacturer of the famous Rubis caravans
Savings rate and monthly amount: what age groups reveal
The gaps between generations are significant. Young people aged 18 to 29 save an average of about 83 euros per month, a level constrained by lower incomes and installation expenses (housing, equipment, mobility). Those aged 50 to 64 are the most frugal, saving about 350 euros monthly, which corresponds to a savings rate of nearly 15% of their income.
Why the 50-64 age group dominates
At this age, several factors converge: children leave the home, mortgage loans reach maturity, and incomes peak in their careers. The capacity to save mechanically increases when fixed expenses decrease.
After age 65, the savings rate remains strong, but the monthly amount decreases, as replacement incomes (pensions) are lower than working salaries.
Median net wealth of the French by age
Accumulated wealth provides a more complete picture than monthly cash flow. The median net wealth (which divides the population into two equal halves) increases significantly with age, primarily due to the duration of capital accumulation and real estate.
- Before age 30, median net wealth is around 15,800 euros, mainly composed of savings accounts and precautionary savings.
- Between ages 50 and 64, it exceeds 200,000 euros, driven by the value of housing and financial investments accumulated over several decades.
- After age 70, median wealth remains high but begins to decline gradually, due to early donations and the consumption of capital to finance daily living or dependency.
The gap between average and median remains considerable at every age group. The wealthiest households pull the average upward, making the median wealth much more representative of the actual situation of the majority of the French.
Territorial divide: why age averages can be misleading
Age-related savings tables present national figures that obscure a determining variable: the place of residence. Since the inflation period of 2022-2024, the territorial divide has intensified.
At a comparable age, a thirty-something in a major metropolitan area saves significantly more today than a thirty-something in a rural area. The reasons are multiple: concentration of skilled and better-paid jobs in large cities, broader access to employee savings plans, and network effects that promote financial information.
The impact of housing costs
The trade-off exists: housing costs in metropolitan areas absorb a larger share of income, which compresses effective savings capacity despite higher salaries. This phenomenon explains why some suburban areas, where real estate prices remain moderate and incomes are decent, show higher savings rates than those observed in city centers.
National averages by age would benefit from being cross-referenced with a geographical filter to reflect these realities. Without this perspective, a reader may feel behind in their savings when their situation is perfectly normal relative to their living environment.
Understanding the gap between declared savings and actual savings
Surveys on declared savings do not always coincide with the flows actually measured by the Banque de France.
- Some households count the repayment of the principal on their mortgage as savings, which artificially inflates their perception.
- Others consider that the money accumulated in their checking account is not savings, even though it represents a measurable cash reserve.
- One-off payments (bonuses, inheritances, sale of an asset) create spikes that distort annual averages if smoothed over twelve months.
Net financial savings and median wealth remain the most reliable indicators for comparing oneself to one’s age group. The declared monthly savings rate provides a trend, not a diagnosis.
Rather than aiming for a standard monthly amount, the most useful approach is to measure total net wealth (assets minus debts) and compare this result to the median wealth of one’s age group. A 40-year-old household with net wealth close to the national median for their category is not behind in savings, regardless of the amount they set aside each month.