Survey: Half of Americans have insufficient emergency savings, quarter have none at all

Posted at 11:00 AM, Jun 25, 2012

(CBS News) About half of Americans are unprepared for a financial emergency – with savings tucked away to cover less than three months worth of expenses if income was lost – and a quarter of the country has no rainy day fund whatsoever, according to a survey for

“The majority of Americans still have much work to do in building an adequate emergency savings cushion,” Greg McBride, Bankrate’s senior financial analyst says of the results.

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