Scott G. Winterton, Deseret News
Americans are getting a lot more money to spend because of historically low interest rates.

Historically low interest rates are helping families save money, according to USA Today.

Households are able to save more than $3,000 a year on average because of these low rates. These savings have made it easier for Americans to spend more even with reductions in their wages, according to the article. Mortgage interest payments have gone down about 30 percent from their high in 2007. Interest payments on other items like cars and credit card debt have gone down by 50 percent. Interest payments dropped to an average of $469 per month at the end of 2011. That's down from $728 in 2007.

"Even if people aren't paying attention to their interest payments falling, the money builds up in their checking account, and that especially benefits big-ticket items like cars," Paul Taylor, chief economist for the National Automobile Dealers Association, told USA Today.

The Federal Reserve has said it will keep the interest rates low through 2014.