Most Americans don't have enough savings for unexpected expenses
Three in five Americans don't have enough savings to pay for unexpected expenses.
According to a new report by bankrate.com, only 38 percent of Americans have enough money in their savings accounts to pay for expenses that come up unexpectedly, such as a 500 dollar car repair or a one-thousand dollar emergency room visit.
The study found the ability to use savings for unexpected expenses increases with age, income and education level.
Millenials were found to be the least likely to have sufficient savings.