Americans Don't Save Enough for Emergencies

Americans Don't Save Enough for Emergencies

Nearly one in four Americans have no emergency savings and only about 30% have enough saved up to cover the recommended six months of expenses, finds a Bankrate.com report.

What’s shocking though is nearly half of Americans with less than 3 months of expenses saved up say they are somewhat or very comfortable with their savings and 18% of people with no emergency savings say the same thing.

Older Americans, 64 years of age or older, is the group most likely to have enough to cover 6 months’ expenses or more. The group that has the least amount saved up for emergencies are younger Boomers, those 54-63 years old.

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