53% of Americans say they don’t have any emergency savings—3 tips to get started (via CNBCMakeIt)
Experts say you should aim to save three to six months' worth of living expenses to best position yourself for a major loss of income or sudden costly event like a car repair or medical procedure. But that's no easy feat, especially when 58% of respondents also report living paycheck to paycheck.
You might not be able to put away six months' of expenses right away, and that's OK. But having even a small amount in the bank could help you avoid debt in the case of an emergency. From there, you can keep building your savings until you feel comfortable with the amount.Higher earnings increase emergency preparedness
When it comes to those who already have emergency savings, men are more likely than women, older adults are more likely than younger people and white Americans are more likely than Black, Hispanic or Asian Americans, the survey found. And generally speaking, earning more money seems to make it easier to put more away. Those earning six-figure salaries are three times as likely to have an emergency fund as those who earn less than $50,000 a year, the survey found.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Majority of Americans believe Trump did something illegal: POLLWith former President Donald Trump now formally charged on criminal charges, a majority of Americans (53%) believe he intentionally did something illegal.
Read more »
CNBC Daily Open: Return to realityWe look ahead to the U.S. consumer price index report later this week, which will help determine the Federal Reserve's path ahead.
Read more »
New report highlights FTX mismanagement, and Arkansas passes crypto mining bill: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Arca's CIO Jeff Dorman explains what's moving crypto markets and what to expect from Ethereum's Shanghai upgrade.
Read more »
CNBC’s best travel rewards credit cards of 2023We analyzed dozens of popular travel cards using an average American's annual budget and dug into each one's perks and drawbacks to find the best travel credit cards based on your spending habits.
Read more »
Billionaire founder of Paul Mitchell and Patron invests in man-made coral reefsCNBC's Diana Olick reports on efforts to save the globe's damaged coral reefs.
Read more »