American Families Lack Emergency Savings

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Although many family have recovered from the recession, the state of American’s finances is still pretty dismal. According to a survey conducted by Neighbor Works America, 34% of Americans don’t have any emergency savings. Another 25% of Americans have just enough savings to get by for one month in the event of a financial emergency.

The survey goes on to state that the lack of savings affects black families even more. African American households made up 47% of those without savings, as compared to 19% of Caucasian households.

I discussed this topic on Headline News along with my colleague Joyce Brewer. Watch the video below and share your thoughts in the comments section.

Stay Strong,

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Join the conversation: Do you feel as if you have adequate emergency savings?

About author

Frederick J. Goodall

Frederick J. Goodall is the founder of Mocha Dad - a parenting website focused on fatherhood. He is passionate about parenting and helping men to be great dads, husbands, and role models. You can contact him at fjgoodall@mochadad.com or on Twitter at http://www.twitter.com/mochadad