Posted 9/14/2023, 10:18:31 PM

Study Reveals Stark Global Divide in Financial Security

World Risk Poll by Lloyd's Register Foundation surveyed financial security across 121 countries. Sweden, Hong Kong, and Norway ranked highest in ability to cover basic needs without income.
2.7 billion people worldwide could only survive a month or less without income. 946 million could survive less than a week.
Financial insecurity is most acute in developing nations like Bangladesh, Egypt, and Jordan.
Lack of financial resilience undermines ability to handle climate change, disasters, and other shocks.
Urgent action needed to address global income disparity and financial security, especially in developing economies.

visualcapitalist.com

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10/3/2023

U.S. Savings Drop to Record Lows Despite High Inflation

Amid economic uncertainty, Americans are saving less, but continuing to spend, which may help the economy avoid a recession; however, many are struggling financially and have little to no savings, relying on credit card debt to make ends meet, and experts recommend building a larger emergency fund to navigate through potential economic contractions.