Although many Americans know much money they would need in their emergency fund to feel comfortable, reaching that goal is easier said than done.
Nearly 90% of Americans agree with the traditional rule of thumb: Save enough money to cover at least three months of expenses, according to Bankrate's "2024 Annual Emergency Savings Report."
And many feel like they would need about double that amount.
A little over 60% of Americans say they'd need enough money saved to cover six months of expenses or more, per the report.
Regardless, in reality, most respondents fall short, according to the report, and wouldn't be able to cover a $1,000 emergency expense using their savings.
Persons:
wouldn't