3 in 10 Americans Have No Savings, Survey Finds

A survey released by Bankrate.com found that almost three in 10 Americans say they have no emergency savings, the highest number since the consumer financial services company began tracking savings five years ago, NBC News reported. "The missing link in the economic recovery over the last few years has been the lack of growth in household income," said Bankrate chief financial analyst Greg McBride. "That makes it very difficult for people to ramp up their savings." Bankrate, which conducted its survey earlier this month, found that in addition to the 29 percent of Americans who have no savings, another 21 percent have less than three months worth of expenses saved, for a combined 50 percent.

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