Most Americans Still Lack Savings for Emergencies Despite Strong Job Market
• Most Americans (56%) still can't afford a $1,000 emergency expense according to a Bankrate survey
• Of those who can't afford an emergency, most would put it on a credit card (21%) or borrow from family/friends (10%)
• Inflation is causing 63% of Americans to save less for emergencies, though 19% are saving more due to higher interest rates
• If they lost their jobs suddenly, 66% would be worried about covering basic living expenses for the next month
• Despite fears over inflation and job security, there is room for optimism with a strong job market that allows people to save