Most Americans have a surprising amount in savings
By Sean Dowling, Buzz60
We're always told to save money for a rainy day.
But when trouble actually comes knocking, chances are the person behind the door is strapped for cash and won't have enough to cover the costs of whatever emergency has arrived.
According to an alarming new survey, nearly 7 in 10 Americans have less than $1,000 to their name; highlighting the country's poor savings habits.
Personal-finance news website GoBankingRates asked 7,052 people how much they had in their savings accounts.
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They found nearly 7 in 10, 69% to be exact, had less than a grand in their savings account.
That's up from 62% when the same question was posed in 2015.
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Upon closer inspection, 34% of Americans have nothing in their savings account.
Lower-income adults struggle with saving money more than middle and upper-income individuals, but no income group did all that well.
Even those making bank!
For instance, 44% of those making between 100 and $149,000 had less than $1,000 in savings.
Given the recommendation for Americans to have six months in expenses saved up in case of an emergency like a medical expense or losing a job, the survey results are particularly worrisome.
