Corona virus causes average household bank deposits to increase by 720,000 Yen ≒ 7,000 Dollars

According to Careerconeection, average bank deposits per house goes up by 720,000 Yen.

Reasons for this may because:

1. Special benefits handed out by the government for each house were simply deposited
2. Voluntary restraints restrained spending for hobbies

The Japanese government wanted to heat up the economy once more, but this doesn’t seem to be going as planned.

According to LeadingTech, The 2020 total average bank savings per Japanese household was 3,890,000 Yen ≒ 37,169 Dollars.

According to Federal Reserve’s 2016 Survey of Consumer Finances, the American average of 40,000 Dollars, which is quite similar for the 2 countries.

The Corona virus pandemic hasn’t calmed down, and future is uncertain. So, having enough bank savings is important.
However, keeping the economy robust is also integral.
The balance is quite difficult …