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image: Reuters/Heinz-Peter Bader

A fifth of Americans say they have zero savings

March 14, 2019

About a fifth of Americans have no money tucked away for unexpected costs.

About 21% of working Americans said they aren’t saving any money at all, Bankrate found in a survey. Among those who are saving, a majority are putting away less than 10% of their income.

Over the past several decades, household savings in the US have been trending downward. By the Bureau of Labor Statistics’ measure, Americans were saving 7.6% of disposable income in December. Before the 1980s, that rate had mostly been in the double digits.

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