How many Americans have no savings? Sarah C. Brady Contributor Wed, July 29, 2026 at 12:25 PM PDT 4 min read Americans have a savings crisis. Or more accurately, we have a crisis of under-saving. In 2026, about a third of U.S. adults have $0 saved for emergencies. People in this group often feel like they're just bad with money. However, you should keep in mind that we're all facing factors beyond our control. Between inflation, high medical costs, and challenges in the job market, many Americans are finding it difficult or even impossible to save money. How many Americans have no savings? It's difficult to say exactly how many Americans have $0 in savings, since different sources cite different figures. One survey from Empower found that 32% of respondents reported they had no emergency savings. And 39% said rising prices are the biggest roadblock to saving for a rainy day . Meanwhile, a Yahoo Finance and Marist poll put the number of Americans without savings higher; 35% of respondents said their savings would not last them a full month if they lost income. Who is saving the least in America? According to the Federal Reserve, the groups with the least money saved include people who didn't complete high school and adults under the age of 30 (Gen Z). Biggest challenges to saving in today's economy A savings shortage is not always about lack of discipline. According to Yahoo Finance's survey, only 8% said their savings shortage was due to overspending. These were the more prevalent causes people cited: 47%: Cost of living 11%: Unexpected bills or expenses 10%: Change of income or employment status 10%: Too many financial obligations 8%: Choosing to spend extra income on things you enjoy 6%: High-interest debt repayment Read more: What to do when your pay raises aren't keeping up with the cost of living Consequences of having no savings Unfortunately, people who don't have savings often make harmful financial decisions to cover their expenses. Here are some of the common "solutions" people turn to when their savings accounts are empty: Overborrowing : A FINRA study found that 27% of people use credit cards to cover unexpected expenses, and 12% turn to loans. Considering that the average personal loan rate is now 11.40% and credit card rates are at 21%, these fixes might turn a temporary financial problem into a long-term debt issue. Overworking : A common solution for people who need emergency funds is to pick up extra work. But as a result of overworking, you might become fatigued and make bad financial decisions for the sake of convenience. For example, after a long shift, you're more likely to buy fast food than to cook at home. Tapping into retirement : Many people see their retirement savings as a solution for unexpected expenses. But taking an early withdrawal or a loan from a retirement account can be costly. For example, if you make an early 401(k) withdrawal, you usually have to pay a...
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