How much money does an average family save a month?
Published on: July 2, 2018
Without savings, it’s hard to plan for the education of your children, a house, or even a vacation. What if someone in the family gets sick and needs expensive medical treatment? Savings are crucial on so many levels, especially for low to middle-income families that need to find creative ways to grow their wealth in order to afford anything more than the basics of rent and food.
Sadly, in a country like Pakistan where most people live hand-to-mouth, there is not much left to save at the end of the month.
VCast Online set out to calculate what the state of monthly savings is for an average Pakistan family, and what we discovered was dismal.
Using data from the Household Integrated Economic Survey 2015 – published by the Pakistan Bureau of Statistics (PBS) – we were able to estimate how much an average household earns and how it spends. What was most alarming is how much is spent on healthcare and education.
While averages can be tricky when dealing with such a wide range of data from a population of about 208 million people, we believe it’s useful to use demographic numbers to assess a society’s capacity to thrive.
VCast Online will continue covering savings as well as other aspects of money and its role in our lives, so subscribe to our Youtube channel to stay informed.
Illustration and animation by Mahrukh Saleem Ansari and Maria Huma