When unexpected expenses crop up, having a safety net to catch you when you fall can help minimize the financial fallout. But in a struggling economy, Americans’ emergency savings are taking a hit.
According to Bankrate’s Annual Emergency Fund Report, 68% of people are worried they wouldn’t be able to cover their living expenses for just one month if they lost their primary source of income. And when push comes to shove, the majority (57%) of U.S. adults are currently unable to afford a $1,000 emergency expense.
