Recent Japan savings survey feels a bit more relatable than past ones!

I've come across a number of articles in the past about how much money people in Japan have tucked away in savings (like this one!), and some of the figures have left me wondering how everyone seems to have so much more put aside than I do. So as you can imagine, I was relieved to see a new survey suggesting that the reality might be a little more complicated.

Released by Better Place ahead of Japan's Savings Day (which fell on October 17), the survey questioned 595 working adults aged 20 to 59 about their savings and borrowing habits. It found that one in four respondents had no savings at all.

Of those without savings, 64% said they were barely managing to cover their monthly living expenses. That equates to roughly one in six people surveyed who are unable to save because of the cost of everyday life.

Money doesn't grow on trees, although it'd be nice if it did!

Even among those who had money set aside, their balances varied considerably. Almost 18% of respondents with savings had less than ¥1 million, while 16.9% had between ¥10 million and ¥30 million. It's a reminder that financial circumstances can look very different from one household to another!

The findings also highlighted how difficult it can be to prepare for the future when money is tight. More than half of respondents, 57.6%, said they had little or no room to save or invest for the future.

Of course, this survey isn't a complete picture of Japan's financial situation, but I thought it offers a useful reminder that you're not alone if your savings aren't where you'd hoped they'd be. Sometimes, simply covering the bills is a financial achievement in itself, so give yourself a pat on the back!