SURVEY: More Americans Have Credit Card Debt Than Emergency Savings
February 13, 2019 7:55AM CST
Almost a third of Americans have more credit card debt than emergency savings.
According to an annual survey by BankRate.com, approximately 74 million Americans have more credit card debt than emergency savings.
That’s about 29% of Americans, the highest since the survey started in 2011.
Just 44% of American households have more emergency savings than credit card debt, a record low.
But almost half of Americans say that boosting emergency savings is a priority for them.
In a separate survey by BankRate last month, only 40% of Americans reported that they have enough savings to pay a $1,000 emergency expense.