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Survey: 31% of Americans have at least 6-months worth of money put aside for emergencies

While research has found that 46% of Americans think they won’t have enough money for retirement, new Bankrate data shows that almost a third have at least six months’ worth of money put aside for emergencies, at 31%.

Princeton Survey Research Associates International surveyed “1,003 adults living in the continental United States” for Bankrate’s Financial Security Index.

How much money Americans have for emergencies

Here’s the breakdown (the numbers are rounded, so they don’t total 100%).

  • “6+ months:” 31%
  • “3 to 5 months:” 17%
  • “< 3 months:” 20%
  • “None:” 24%
  • “Other:” 7%

Almost a third have enough for at least six months— this is reportedly the highest percentage of people with this amount that Bankrate has ever recorded (since 2011).

Bankrate’s Financial Security Index— which tracks how Americans are doing in terms of “comfort with savings, comfort with debt, net worth, job security and overall financial situation” — is now the best it’s ever been.

With values that are more than 100 showing that “financial security” is increasing, this number was 103.2 in June 2016, and 106.7 in June 2017.

How much money each generation has put aside

Almost 40% of Baby Boomers have at least six’ months worth of money for emergencies— here’s how other generations fared:

  • “6+ months:” 23% of millennials, 38% of Baby Boomers
  • “3 to 5 months:” 27% of millennials, 11% of Baby Boomers
  • “< 3 months:” 22% of millennials, 15% of Baby Boomers
  • “None:” 25% of millennials, 27% of Baby Boomers
  • “Other:” 3% of millennials, 9% of Baby Boomers

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