What Percentage of Americans Do Not Have Between $500 to $1,000 on Hand to Cover an Unexpected Emergency?
Around 63% of Americans do not have $500 to $1,000 readily available for unexpected emergencies, underlining significant financial challenges for a majority of the population.
by Sai V
Updated Oct 26, 2023
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What Percentage of Americans Do Not Have Between $500 to $1,000 on Hand to Cover an Unexpected Emergency?
Approximately 63% of Americans do not have between $500 to $1,000 on hand to cover an unexpected emergency, according to a survey conducted by SecureSave. This study reveals the financial challenges faced by a significant portion of the population due to inflation and rising debt rates.
Despite new provisions in the Secure 2.0 legislation aimed at facilitating access to emergency savings, experts anticipate delays in implementation. The findings highlight the urgent need for comprehensive financial support and emergency savings initiatives to alleviate the financial stress experienced by workers.
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