Is it actually true that most Americans have less than $1,000 in their savings?

The survey results, originating from a May 2021 Federal Reserve report, highlight that 64% of Americans could manage a $400 emergency with cash or equivalents, not 36% struggling as often reported.

While over a third of Americans not being able to afford a $400 crisis is indeed concerning, it’s vital to understand that many have access to cash but may be prioritizing other expenses.

Read at 24/7 Wall St.