Other survey findings included, according to a news release:
- Men are better savers overall, showing savings at 81% versus women at 72%. When it comes to putting aside enough for an emergency savings fund, the gap gets larger, with men totaling 53%, compared to women at 39%.
- Men gain more interest on their savings then women (81% versus 70%).
- 70% of 18 to 24 year olds and almost 60% in the 25 to 34 year old category are not prepared in case of a financial emergency.
“Half of all Americans might be on the brink of financial disaster,” said Greg McBride, senior financial analyst at Bankrate.com. “Many people living paycheck to paycheck would not be able to weather a financial storm, such as sudden unemployment or illness.”
The national random-digit-dialed phone study of 1,005
adults 18 or older was conducted for Bankrate by GfK Roper
Public Affairs & Media. The surveys were conducted from
June 29 through July 1, 2007.