One in Four Americans Has No Emergency Savings

Financial analyst: “People are not making progress."
One in Four Americans Has No Emergency Savings

Image Credits: 68751915@N05 via Flickr

by Asma Ghribi | Wall Street Journal | June 23, 2014


Twenty-six percent of Americans have no emergency savings, according to a report by Bankrate.com. Over the past four years, there has been little to no progress when it comes to Americans’ saving capacity.

Even those who manage to save aren’t putting away enough. As many as two-thirds of people in the U.S. don’t have the recommended six months of expenses saved. The percentage of people with savings enough to cover at least three months shrank to 40 % in 2014, compared with 45%, a year earlier.

Despite Americans being more secure in their jobs and more comfortable with their debt since the recession ended, their savings capacity remains weak even among those with highest-income household. Only 46% of those with annual income of $75,000 or above have enough savings to cover six months of expenses.

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