NeighborWorks America’s annual Consumer Finance Survey showed that while many Americans think it’s important to save, only half have emergency savings to last longer than three months.
Some other highlights:
- 28 percent of adult Americans have no emergency savings in place.
- The most vulnerable are those with lower incomes, people of color, and relatively speaking, women and young adults.
- 61 percent of adults do not follow a formal budget plan.
NeighborWorks Home Partners’ Financial Capabilities program and Homebuyer Pre-purchase Counseling both help individuals develop a spending and savings plan and housing budget to get them on track for a stable financial future. You can start anytime by calling 651-292-8710.
Some content provided by NeighborWorks America
For more than 35 years, NeighborWorks America, a national, nonpartisan nonprofit, has created opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. In the last five years, NeighborWorks organizations have generated more than $24.5 billion in reinvestment in these communities. NeighborWorks America is the nation’s leading trainer of community development and affordable housing professionals