How Much Money Americans Have in Their Savings Accounts—Nearly Half Have Less Than $500
CNBC | 1/24/2024

Have they checked the value of their bottle returns?

Nearly half of Americans have $500 or less in their savings accounts, an amount that leaves them vulnerable to unexpected expenses, . . .

. . . like buying a McDonald’s meal for three . . .

. . . according to a GOBankingRates survey of 1,063 U.S. adults conducted in November 2023.

About 29% of respondents have between $501 and $5,000 in their savings accounts, while the remaining 21% of Americans have $5,001 or more.

21%? Are you pulling my leg? They’ll never be able to support the rest.

Few hold much cash in their checking accounts as well. Of those surveyed, 60% report having $500 or less in their checking accounts, while only about 12% have $2,001 or more.

So how do they pay their monthly bills?

The lack of cash in either savings or checking accounts suggests that many Americans are living paycheck to paycheck. This leaves them vulnerable to unexpected expenses, underscoring the importance of having an emergency fund, if they’re able to build one.

Just emu [sic] -lating the president and Congress, I guess.