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NO SPLURGE

Americans aren’t spending their savings from the gas pump

gas pumping
AP Photo/Nam Y. Huh
Saving it.
By Melvin Backman
Published Last updated This article is more than 2 years old.

The fall in oil prices has been good for Americans’ wallets—and they’re socking a lot of it away.

The Bureau of Economic Analysis just published its monthly report on personal income, and spending money saw its biggest monthly jump in a while:

But expenditures have fallen for the second month in a row. The savings rate is at its highest since the Fiscal Cliff ordeal back in 2012.

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