Personal Income and Outlays – July 2025

Do not save what is left after spending, but spend what is left after saving. – Warren Buffett

By Brad Beckett

According to recent data from the U.S. Bureau of Economic Analysis, personal income in July increased $112.3 billion (0.4% at a monthly rate). Disposable personal income (DPI – personal income less personal current taxes) increased $93.9 billion (0.4%), and personal consumption expenditures (PCE) increased $69.9 billion (0.3%).Personal outlays (the sum of PCE, personal interest payments, and personal current transfer payments) increased $108.9 billion in July.Personal saving was $985.6 billion in June, and the personal saving rate (personal saving as a percentage of disposable personal income) was 4.4%.