TULSA, Okla. — High prices at the gas pump and the grocery store are squeezing Americans’ ability to save for unexpected expenses.
A recent study by Deposit Accounts at LendingTree found that 37% of Americans have less than $500 in cash savings, including 14% who have no cash savings at all. If their income suddenly stopped, 45% say they would not be able to cover more than one month of essential expenses.
LendingTree’s Matt Schulz, noted many are struggling to build their accounts.
“And plenty of people are not putting any money into savings at all in a given month.”…