Nearly 3 out of every 10 Americans do not have ANY savings lined up for an emergency
majority of Americans do not have enough savings to last them six months if they were to lose their jobs.
A new survey shows that even though the tough economy has taken a significant hit on household incomes, that has not prompted people to make a more drastic effort to build up their precautionary savings.
Only a quarter of respondents to a national poll said that they had savings equivalent to six months’ salary, even though that is the generally-recommended marking point for financial experts.
Overall, a majority- 66 per cent- of respondents had saved at least five months.