Americans Unprepared for Rainy Days

April 17, 2002 ( - Three quarters of respondents to a survey aren't saving more to prepare for an eventual job loss while only a scant 30% say they are financially ready to be laid off, according to a Bank One survey.

In fact, more than half of respondents said they were totally unprepared for the unemployment line.

Results also show that one in five investors are investing less than they did a year ago, while a quarter is investing more.

The survey also examined how respondents bought their finances into their personal relationships, finding that:

  • some 64% of men and women say having a financially savvy spouse is important to them, although only 16% label their spouse as savvy,
  • nearly half of men, 47% and 35% of women search for a mate who is a frugal spender, and
  • 70% feel they can figure out their family’s net worth, but only 40% believe their spouse could do it

Impulse Research Corp. conducted the online survey in early February 2002 with a random sample of 1,061 men and women ages 21 to 50.