Survey finds many Americans unprepared for $1,000 emergency expense

Jan 19, 2022
According to the Bankrate survey, 20% would need to use a credit card to pay off a big emergency expense and 10% would borrow from family or friends.
Inflation is part of what's chipping away at Americans' savings.
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We're back to saving less

Dec 23, 2021
The personal savings rate dropped in November to its lowest level since December 2017.
After squirreling away money at the heights of the pandemic, Americans are reverting back to their pre-COVID spending habits.
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About a quarter of Americans have no emergency savings

Jul 21, 2021
A survey found that while the pandemic has afforded some the opportunity to save money, many low-income households could not.
Around 25% of Americans report having no emergency savings, up from 21% in 2020, per a new survey.
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People adopted better financial habits during the pandemic

Jun 22, 2021
Two recent surveys show a trend toward increased financial discipline.
Financial security and savings are on more people's minds.
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Despite more savings, American households still have a lot of debt

Who's taking on debt for what reasons, and why paying it down is good for your financial and mental health.
Recent data from the Federal Reserve Bank of New York shows the overall amount of household debt increased steadily in 2020.
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Could your emergency savings pay off your credit card debt?

Feb 25, 2021
More than half of Americans say their emergency savings could pay off their credit card debt, according to a recent poll.
More than a quarter of Americans owe more on their credit cards than they have in savings, according to Bankrate’s recent poll. That’s down slightly from a year ago.
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Savings take a hit as pandemic lingers

Oct 30, 2020
People bought more stuff, like cars and home office equipment, an expert says. But also, there haven’t been any more relief checks.

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For some, pandemic is a rare chance to save money

Sep 8, 2020
Many are taking the chance to build up emergency savings or save for a downpayment, while others are paying down credit card debt and student loans.
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China's big savers weather pandemic uncertainty

Jun 16, 2020
The communist government is not handing out cash to struggling workers. Many have to depend on themselves.
Zhang Lei manages an entertainment center in Shanghai, and for four months, he was not sure whether he would still have a job or not.
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Millions are facing unemployment without savings to fall back on

Apr 2, 2020
The median U.S. household has just a couple of weeks worth of savings to tap into in a crisis.
Some economists believe the unemployment rate could hit 30% before long.
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