{"id":3309,"date":"2014-06-25T07:50:41","date_gmt":"2014-06-25T12:50:41","guid":{"rendered":"http:\/\/www.mdmproofing.com\/iym\/weblog\/?p=3309"},"modified":"2014-06-24T22:30:25","modified_gmt":"2014-06-25T03:30:25","slug":"survey-emergency-savings","status":"publish","type":"post","link":"https:\/\/www.mdmproofing.com\/iym\/weblog\/2014\/06\/survey-emergency-savings\/","title":{"rendered":"Survey: 25pct Have No Emergency Savings"},"content":{"rendered":"

In the latest non-shocking financial survey conducted by Bankrate, we find that roughly a quarter of respondents said they had NO emergency savings. Zero, zilch, zip, nada. A further 25 percent had less than three months’ worth of expenses saved, so altogether, about half of respondents had less than three months of expenses saved up.<\/p>\n

Bankrate: Financial Security Index, June 2014<\/a><\/span><\/p>\n

A cursory glance of my “Statistics”<\/a> category of previous posts tells me that the dismal figures Bankrate reports here aren’t far off from what we’ve seen from other sources lately.<\/p>\n

Also from the poll: Among those earning $75k or more per year, only 46 percent have at least six months’ worth of expenses saved.<\/p>\n

Readers know that I love polls and stats like these, but gosh darn, how come these polls never seem to ask the ancillary question: For those with any savings, how much are they also carrying in revolving credit-card debt?<\/p>\n

Because something tells me that if these same respondents divulged THAT as well, then their “true cash savings” would emerge … and savings rates would be significantly worse.<\/p>\n","protected":false},"excerpt":{"rendered":"

In the latest non-shocking financial survey conducted by Bankrate, we find that roughly a quarter of respondents said they had NO emergency savings. Zero, zilch, zip, nada. A further 25 percent had less than three months’ worth of expenses saved, so altogether, about half of respondents had less than three months of expenses saved up. 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