About one in five Americans didn't save any money in 2021, according to the MagnifyMoney Savings Index. About 18 percent of respondents admitted to contributing zero dollars to their savings last year and another 48 percent contributed fewer than $5,000.
About 25 percent of Americans have no emergency fund at all, according to Bankrate's July 2021 Emergency Savings survey. About one in six households report having more savings now than prior to the pandemic.
The Federal Reserve reports that 36 percent of Americans don't have enough money on hand to cover a $400 emergency.
