(TNND) — A third of Americans have more credit card debt than emergency savings, according to a new Bankrate survey.
Over half of those surveyed have more emergency savings than credit card debt. And 13% have neither.
But Bankrate Chief Financial Analyst Greg McBride said the share of Americans with more debt than savings is significantly higher than a decade earlier.
Inflation has cooled from its peak in 2022, which McBride said has allowed more households to start building their emergency savings.
More Americans said their savings increased, rather than decreased, from last year. McBride said that’s a positive sign.
But Americans are still under-saved for emergencies, McBride said.
“Emergency savings has long been the Achilles’ heel…
