Median bank balances by age, household and education: where do you stand?

Education appears to have the strongest impact on bank account balances

For many people, checking a bank statement can be stressful. One survey found that a sizable share of the public dislikes looking at checking or savings balances because of the anxiety it can trigger.

That reaction is easy to understand. A recent survey from financial firm Self Financial found that more than a third of households have no money left from their paychecks by month’s end.

Still, the Federal Reserve’s latest Survey of Consumer Finances offers a clearer picture of how much money people tend to keep in their bank accounts. The data, which is collected every three years, shows wide differences across the population.

Some groups hold as little as $900 across checking and savings accounts, while others have more than $20,000. Balances differ sharply by household, age and education level, according to the Fed.

Household balances edge higher overall

The median U.S. household bank account balance across all households was $8,200 in 2025, according to the Federal Reserve. That figure is second only to 2022, when the median stood at $8,760.

Fed data shows bank account balances have experienced two major declines over the past 27 years: one during an economic slowdown in the early 1990s and another during the Great Recession from 2007 to 2010.

After 2010, balances rose in each new three-year survey through 2022 before slipping slightly in 2025.

Older people tend to hold more

Older consumers generally keep the largest bank balances. Those age 75 and older had a median total of $14,000 in 2025, federal data showed.

People between 55 and 74, which includes Gen X and baby boomers, had a median balance of $10,000.

From 2022 to 2025, all but two age groups saw their balances increase, including those 75 and older and those ages 55 to 64.

Education makes the biggest difference

Education is the clearest driver of how much money people keep in the bank, according to the federal data.

Households headed by someone with a college degree had a median bank balance of $21,500, which is $16,000 more than the next-highest group: people with some college education but no degree.

Over the past 30 years, the median bank balance for college graduates more than doubled, rising from $9,740 in 1995 to $21,500 in 2025. By contrast, people without a high school diploma saw their median balance fall from $2,540 in 1995 to $900 in 2025.