Survey Finds Only A Quarter Of Americans Satisfied With Their Savings

BOSTON (WBZ-AM) -- A recent survey found that only about a quarter of Americans are satisfied with their savings--and that around a quarter simply don't have any emergency money saved up.

The survey from Bankrate.com, published on Wednesday, showed how much Americans have in emergency savings, their comfort level in their amount of savings, and the differences in emergency savings by generation. It found, in the words of study author Taylor Tepper, that "Americans are comfortably numb with their savings plight."

It finds that only about 29 percent of Americans have the recommended amount of savings--enough to cover expenses for six months--while 23 percent have no savings at all. It also found 24 percent of Americans "comfortable" with their savings, and 22 percent "not at all comfortable."

Bankrate.com's Greg McBride says one problem is that many people are saddled with credit card debt.

"You've got to aggressively pay down debt, particularly with interest rates rising," he said. "Have a direct deposit from your paycheck into a dedicated savings account, that's the first big step."

Read the full survey here.

WBZ NewsRadio 1030's Carl Stevens reports

 

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