Savings Accounts Are Becoming A Luxury Most People Can’t Afford
Money is tight right now, and with the economy recovering slower than most people would like to see, people are finding different ways to save their hard earned income.
A new survey finds that a majority of Americans don’t have enough savings to last them six months if they were to lose their jobs.
Only a quarter of Americans had saved enough to last them six months in case they lose their job, which is the usual amount of time it takes to find a new job.
The survey also found that 28% of Americans don’t have any savings at all in case of an emergency.
The one thing that the survey did not find out is how many people took their money out of banks due to trust issues. People are more apt to hold on to their money so they know exactly where it is.