Recent research conducted by Bankrate shows that more than one-third of survey respondents either have more credit card debt than emergency savings or no emergency savings at all which hampers the ability to respond to unexpected financial situations; nevertheless, American’s confidence in the economy seems to be on the rise.
Despite increased optimism about their financial situations, many Americans are still financially vulnerable to unforeseen emergencies.
According to a recent Bankrate survey, nearly one quarter--or 24 percent--of respondents admitting to having more credit card debt than emergency savings, limiting their financial flexibility.
A Bankrate study from 2014 noted that 26 percent of Americans had no funds set aside for unexpected expenses at all, which is consistent with previous research.
The need for accessible funds is important, as a National Endowment for Financial Education poll found that 63 percent of survey participants reported having at least one unexp
