The French have never saved so much: "I earn 1,800 euros a month and I have 140,000 saved up."

This is a record that isn't necessarily good news. The French have never saved so much money . According to the INSEE, the household savings rate, excluding the Covid years, reached its highest level in 46 years, at 18.8%. In other words, the French put 18.8% of their disposable income (after social transfers and taxes) into a savings account.

A very high level, not seen since 1979. And which is not necessarily good news for the economy because it could lead to a drop in consumption and therefore in business income and VAT receipts.

This is the case of Joss, 36, a scheduler in industry who manages to save almost 20% of his salary, or nearly 260 euros: "I earn 1,800 euros per month, I'm married and we own our house which we've been paying off for a little over a year," he told Les Grandes Gueules this Wednesday. As a result, thanks also to a capital gain on the sale of a previous apartment and an inheritance, Joss has "between 120,000 and 140,000 euros saved up."

"I save but above all I invest so I am rather optimistic for the future of capitalist society. I started with safety savings in the livret A and then I invest in the stock market in a PEA (share savings plan) and a little in cryptocurrencies," he explains on RMC and RMC Story .

"This money is for the future, it will be to supplement my retirement or to earn income from it. For me, we all need to participate in our financial education," adds Joss.

But this ethic comes at a cost: "There's a bit of deprivation, I go to restaurants less with my partner," he admits. Because his way of consuming has changed: "When I started working at 25, I had the latest phone, the latest headphones, and I bought lots of things on Amazon that I used twice. Then, I preferred to save for my future," he recalls.

By comparison, in the United States, the country of unbridled consumption, households save only 4% of their disposable income.

But a high savings rate isn't all bad news for France. It allows France to benefit from the favor of rating agencies and borrow at favorable rates.