Nearly one-quarter of Americans are one emergency away from financial disaster
“Nearly one-quarter (24%) of Americans have no emergency savings, according to data released last week by the personal finance site Bankrate. The good news: That’s down from 28% this time last year and the lowest percentage in six years. The tendency to have no emergency savings is highest among those aged between 53 and 62. (Wanda Battle is 61.) Some studies have suggested that medical bills are the No. 1 cause of personal bankruptcies and the Republican-controlled Senate is currently mulling a new bill designed to replace the Affordable Care Act. The number of Americans who have enough to cover six months’ expenses or more jumped to 31% from 28% last year and 22% in 2015, a new high during the seven years Bankrate has been polling on this subject.”