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An emergency expense can cause stress, but having savings could help. Find out how many Americans can't afford to pay for a $400 emergency with cash.
However, nearly 37% of Americans say they couldn’t afford an emergency expense over $400, and shockingly enough, 21% of people have no emergency savings at all. Image credits: Epic Economist #5 ...
37% of Americans can’t afford an emergency expense over $400, according to Empower research, Empower. Accessed January 2, 2025. Accessed January 2, 2025. National Rates and Rate Caps , FDIC.
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In fact, about 37% of Americans can't afford an unexpected expense over $400, and 21% have no emergency savings, based on recent data from Empower, a financial services company.
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The survey found that some Americans have completely stopped buying certain categories of food to save on their grocery bills, with the top cut categories being snacks (61%) and beverages (51%).
Some 37% of Americans can’t afford an unexpected expense over $400, and almost a quarter (21%) have no emergency savings at all, according to a recent survey by Empower.
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