A large majority of Americans are falling behind on their savings, as 81 percent have not increased their emergency savings since the beginning of the year, according to a survey.
The survey by Bankrate, released on Oct. 25, showed just 19 percent of American households increased their emergency savings, while 32 percent have less savings now compared with the beginning of 2023. Thirty percent of households have the same amount of savings, while 20 percent had no emergency savings at the start of the year and remain having none.
In terms of age, older generations tend to have less emergency savings now than at the beginning of the year.
