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76% of respondents don't have enough savings to cover six months of expenses in case of an emergency, financial news site Bankrate.com reported Monday its monthly survey which forms its Financial Security Index.
27% of the respondents reported having no emergency savings at all.
In terms of comfort level of savings, the findings show that those who feel less comfortable outnumber those who feel more comfortable two to one.
With millions of Americans lacking healthcare, the chance that a health emergency could wipe out any possible savings and bring financial catastrophe may seem all too real. Even with some level of healthcare coverage, exorbitant costs can crush any savings, or force people to add to credit card debt.
Also, a report this month from the Economic Policy Institute highlighting the devastation cuts to Social Security and Medicare would bring found that "Many of America's 41 million seniors are just one bad economic shock away from significant material hardship."
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Trump and Musk are on an unconstitutional rampage, aiming for virtually every corner of the federal government. These two right-wing billionaires are targeting nurses, scientists, teachers, daycare providers, judges, veterans, air traffic controllers, and nuclear safety inspectors. No one is safe. The food stamps program, Social Security, Medicare, and Medicaid are next. It’s an unprecedented disaster and a five-alarm fire, but there will be a reckoning. The people did not vote for this. The American people do not want this dystopian hellscape that hides behind claims of “efficiency.” Still, in reality, it is all a giveaway to corporate interests and the libertarian dreams of far-right oligarchs like Musk. Common Dreams is playing a vital role by reporting day and night on this orgy of corruption and greed, as well as what everyday people can do to organize and fight back. As a people-powered nonprofit news outlet, we cover issues the corporate media never will, but we can only continue with our readers’ support. |
76% of respondents don't have enough savings to cover six months of expenses in case of an emergency, financial news site Bankrate.com reported Monday its monthly survey which forms its Financial Security Index.
27% of the respondents reported having no emergency savings at all.
In terms of comfort level of savings, the findings show that those who feel less comfortable outnumber those who feel more comfortable two to one.
With millions of Americans lacking healthcare, the chance that a health emergency could wipe out any possible savings and bring financial catastrophe may seem all too real. Even with some level of healthcare coverage, exorbitant costs can crush any savings, or force people to add to credit card debt.
Also, a report this month from the Economic Policy Institute highlighting the devastation cuts to Social Security and Medicare would bring found that "Many of America's 41 million seniors are just one bad economic shock away from significant material hardship."
______________________
76% of respondents don't have enough savings to cover six months of expenses in case of an emergency, financial news site Bankrate.com reported Monday its monthly survey which forms its Financial Security Index.
27% of the respondents reported having no emergency savings at all.
In terms of comfort level of savings, the findings show that those who feel less comfortable outnumber those who feel more comfortable two to one.
With millions of Americans lacking healthcare, the chance that a health emergency could wipe out any possible savings and bring financial catastrophe may seem all too real. Even with some level of healthcare coverage, exorbitant costs can crush any savings, or force people to add to credit card debt.
Also, a report this month from the Economic Policy Institute highlighting the devastation cuts to Social Security and Medicare would bring found that "Many of America's 41 million seniors are just one bad economic shock away from significant material hardship."
______________________