The Role of Emergency Savings in Family Financial Security

The Role of Emergency Savings in Family Financial Security

Americans overwhelmingly say they prefer financial stability over economic mobility. However, recent Pew research suggests that such security is elusive: Even the best-off households find their finances strained when they experience a financial shock such as a major car or home repair or a loss of income.

In a series of three issue briefs to be released over the coming weeks, Pew shows the extent to which households are financially vulnerable when faced with a financial shock. The briefs provide insight into the financial risks that Americans face and the impact of shocks on family balance sheets; households’ level of preparation to address emergency needs; and the implications of families’ savings behavior for policymakers as they work to create solutions that support Americans’ financial security.

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How Do Families Cope With Financial Shocks?

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How Do Families Cope With Financial Shocks?

Unexpected expenses or losses of income can create significant pressure, even for the economically fortunate.

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What Resources Do Families Have for Financial Emergencies?

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What Resources Do Families Have for Financial Emergencies?

Families that lack a savings cushion are apt to face greater difficulty in coping with unexpected financial setbacks. This brief examines the state of Americans’ emergency savings as a first line of financial defense.

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Barriers to Saving and Policy Opportunities

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Barriers to Saving and Policy Opportunities

This brief explores how Americans think about saving and how policymakers can help families better prepare for financial challenges.

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