Fewer Americans have emergency savings, report shows

By Balitang America Staff, ABS-CBN North America Bureau

June 23, 2014

REDWOOD CITY, Calif. – While the country may have survived the worst of the Great Recession Americans are still struggling to save money.

A new report by Bankrate.com found that more than a quarter of Americans have no emergency savings.

The Bankrate.com report shows 67 percent of Americans have less than the recommended six months’ worth of expenses saved. The number of Americans who have at least three months’ worth of savings dropped from 45 percent to 40 percent in 2013.

The group most likely to have no emergency savings — Americans who are 30 to 49 years old.

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