47 Percent of Black Households Do NOT Have an Emergency Savings

Getting with the program…

"Mastering You" with Maxwell D Toliver

Reported by Taylor Miller

Many Americans are faced with a lot of financial problems, and this is a fact for 47% of African-American families. According to Neighbor Works America, a survey conducted in its second-annual consumer finance report found that approximately 34% of Americans don’t have any emergency savings and 25% of Americans have only enough to support themselves for a month. The lack of savings affects Black families even more than others, with many of these families being in the low-income bracket and having no college education.

47-Percent-of-Black-Households-do-not-have-an-emergency-savings-www.financialjuneteenth.com_

“There is a large disparity in the ability to save, with the highest percentages of households without any savings at all seen among African-American low-income adults with lower incomes, and among those with a high school education or less,” the survey reports.

African-American families have the highest percentage of households without savings, at 47%. Hispanic families without savings are at 41%, and…

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