Business
Millions of Americans Have Little to No Money Saved
In this Sept. 24, 2013 file photo, a sheet of uncut $100 bills is inspected during the printing process at the Bureau of Engraving and Printing Western Currency Facility in Fort Worth, Texas. (AP Photo/LM Otero)
(USA Today) – Millions of Americans have no savings set aside for a rainy day, leaving them in serious jeopardy if financial calamity strikes, according to two new studies released this week.
Roughly a third of American adults don’t have any emergency savings, meaning that over 72 million people have no cushion to fall back on if they lose a job or have to deal with another crisis, according to a survey released today by NeighborWorks America, a national non-profit that supports communities.
Among the 1,035 adults who took part in the poll, 34% had no money set aside for an emergency, while 47% said their savings would cover their living expenses for 90 days or less.
“This is troubling,” Paul Weech, president and CEO of NeighborWorks America, said in an e-mail. “We’re concerned because our survey shows that many people are still digging themselves out of the hole that they found themselves in during the Great Recession.”
