MIND YOUR BUSINESS
conditions, though Americans cite several common roadblocks to saving for a rainy day:
* 39% say inflation and rising prices are the top barrier
* 35% point to high monthly expenses
* 32% say their income is too low or irregular
* 22% prioritize paying off debt first
Close to half (46%) say their emergency savings account has less money compared to a year ago and more than 2 in 5 (42%) say their savings wouldn't help them if they lost their job today. Some 40% say they can count on their family to help if something goes wrong financially.
Where do Americans keep their safety nets?
Around 37% of Americans store their emergency saving fund in a regular savings account. A quarter use a checking account (23%). Nearly 1 in 5 keep emergency cash at home (19%) - a figure that rises to 27% among Gen Z.
Only 16% have set a specific goal of saving six months of expenses. But the lack of a precise number isn't stopping people from trying. In fact, 41% don't have a target at all - but they're putting away money as they go.
Generational check-in
* Car repairs (26%)
* Medical bills (24%)
* Home repairs (19%)
* Job loss or income reduction (14%)
* Pet emergency (11%)
Nearly two-thirds (64%) of Americans say emergency savings are a financial priority for them in 2025. Some 17% contribute to their fund monthly as part of their budget, and 31% say they've added to their savings in the past month.
Stress meets strategy
Most take a "better safe than sorry" approach to emergency savings and want to put away as much as possible (39%), with half (52%) wishing they had started saving sooner. Close to 1 in 5 are more modest, saving up "just enough to sleep at night" (17%), while 13% are opportunity cost conscious - they balance emergency savings with other investments.
But the study reveals awareness and momentum: Nearly half (48%) believe their emergency savings will grow over the next year:
* 20% add to their fund sporadically when they have extra money
* 12% have set up automatic monthly contributions
What gets in the way?
Nearly a quarter (23%) say they maintain the same emergency savings approach regardless of economic conditions, though Americans cite several common roadblocks to sa
" Close to half (46%) say their emergency savings account has less money compared to a year ago ...."