(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 Bankrate.com.
“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.
