In addition, there is an added layer of inconsistency from respondents who potentially interpret questions in various ways.
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Over 30 percent feel they will face challenges in meeting even a $400 emergency expense.
The way forward
Several policy and marketplace solutions can make headway in improving Americans preparedness for financial emergencies.
One promising approach is apayroll deduction program specifically for emergency savings, offered through employers or other third-party providers.
Understanding these aspects is essential to assessing adequacy and designing effective solutions for improving emergency savings rates for Americans.
Does Saving for Emergencies Improve Productivity at Work?
