Nearly 50% of Americans , Have Less Than $500 in Savings.<br />In Nov. 2023, GoBankingRates surveyed over <br />1,000 Americans to find out how much money <br />they have in their savings accounts, CNBC reports. .<br />According to the survey, <br />29% of respondents had up to $5,000.<br />21% had over $5,000.<br />Close to 50% said they had $500 or less.<br />When it comes to checking accounts, <br />60% said they had $500 or less.<br />Only 12% reported having over $2,000.<br />The findings suggest that many people in America are struggling to live paycheck to paycheck. .<br />They're also likely unable to build up an emergency fund, which financial planners recommend. .<br />Inflation and poor savings habits <br />are often to blame, CNBC reports. .<br />Inflation and poor savings habits <br />are often to blame, CNBC reports. .<br />The inability of Americans to withstand an emergency costing $500 or even $1,000 can be financially detrimental, with a domino effect on their life, Alex Lozano, financial planner and founder of <br />Lozano Group Wealth Management, via CNBC.<br />The inability of Americans to withstand an emergency costing $500 or even $1,000 can be financially detrimental, with a domino effect on their life, Alex Lozano, financial planner and founder of <br />Lozano Group Wealth Management, via CNBC
