25% of Americans save no money for emergencies

[Jesus Malverde]

Any good financial planner will generally tell you to set aside at least three to six months' living expenses for a rainy day. If you ever need this money, you'll need it fast, but isn't there somewhere better to keep it than your mattress? Here are a couple of options.

An emergency fund helps you pay bills such as your mortgage, utilities and groceries in the event you lose your job or become disabled, or to pay for an unexpected car or home repair, to name a few examples. You may need more than six months' expenses if you lose a hard-to-find job or your household relies on one income.

If you put off this financial necessity, you're not alone. More than one in four Americans save no money for emergencies, according to a recent Bankrate survey. About one in five people sock away enough to cover less than three months of expenses.

http://www.usatoday.com/story/money/personalfinance/2015/05/02/adviceiq-investing-your-emergency-funds/26744677/

[hobbit709]

1. Hard to save when you come up $5 short every month.

I've yet to see one of these advice stories by someone who lives on the edge.

[chillfactor]

3. amen!

[ScreamingMeemie]

4. Right?

Shame on us for not saving what we don't have to begin with.

[yeoman6987]

12. Oh they just say go get another job

You know how easy that is. Financial planners are the most unrealistic people ever. Mine is always on me. Never happy with the monthly amount. Talks me into raising it and two months later not happy again.

[KittyWampus]

18. Thread win on first post.

[chillfactor]

2. I am lucky if I survive day-to-day.....

let alone set money aside...

[still_one]

5. I am surprised it isn't more than 25%

[Jesus Malverde]

6. Me too

The middle class lifestyle is largely built around debt.

[Arugula Latte]

13. I would bet good money that it is far higher (but betting isn't a good use of money)

Think of how many people are in debt, let alone just "lack savings."

[still_one]

15. We don't have to bet money we can bet quatoons, that is what they

used on star trek

[Bluenorthwest]

7. What it is is too many emergenices, not enough money.

nt

[SamKnause]

8. Everyday is an emergency.

I don't have a penny to save.

I can stretch a nickle into a dollar.

The trick is you have to have a nickle.

Living on Social Security Disability Insurance is barely survivable.

If the wages in this country hadn't been stagnant for 30+ years

I would have a savings account.

[Jesus Malverde]

9. Hang in there!

[SamKnause]

10. I'm trying.

[LWolf]

11. What percent of Americans

have anything to save paycheck to paycheck?

[smokey nj]

14. It's hard to save when all your money is invested in

surviving.

[hunter]

16. For too many of us our money is not our own.

We are wage slaves and hustling for the Company.

Whenever we get just a little ahead the Company raises the rents and increases the prices in the Company Store.

[IVoteDFL]

17. It's not for lack of trying

I try to add a little something to my savings with each check, sometimes even if I just round down the change. Been working since November, I'm almost up to $50. Three months expenses? That is barely enough for me to take a day off if I get sick.