Most Americans Lack Savings, Worried About Covering Costs If Lost Job: Survey
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56% of Americans surveyed could not afford a $1,000 emergency expense. Most would put it on a credit card or borrow money.
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63% are saving less for emergencies due to inflation. However, 19% are saving more due to higher interest rates.
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If they lost their jobs suddenly, 66% would be very worried about covering living expenses after just 1 month.
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Despite fears over inflation, recession, and job loss, there is room for optimism with a still robust job market.
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Over 1,000 adults were surveyed online and via phone about their financial preparedness for emergencies and unexpected costs.