Forty two percent of U.S. adults report they do not have an emergency fund. Only 38 percent say they have saved enough to last at least three months. At the same time, 4.0% of credit card balances are in serious delinquency and household debt service payments average 9.2% of disposable personal income.
Key Takeaways
- The percent of credit card balances in serious delinquency (90+ days) was 4.0% in 2024 (U.S.)
- Bank credit to households for credit cards was $1.0 trillion in 2023 (U.S.)
- Personal saving rate was 4.8% in March 2024 (seasonally adjusted)
- Household debt service payments as a percent of disposable personal income averaged 9.2% in 2023 (U.S.)
- Total household debt service ratio was 9.0% in Q1 2024 (U.S.)
- In 2024, 28% of Americans said they would use credit cards to cover an unexpected expense (U.S.)
- In a 2023 survey, 34% said they keep emergency savings in a separate savings account (survey)
- U.S. personal income fell 1.1% in April 2024 (seasonally adjusted)
- U.S. unemployment rate averaged 3.9% in April 2024 (seasonally adjusted)
- U.S. CPI inflation (12-month percent change) was 3.4% in April 2024
- $2.4 billion was the projected annual benefits from accelerating adoption of automatic emergency savings features in consumer apps in 2024 (industry estimate)
- Behavioral nudges increased emergency savings account contributions by 10% in a field experiment (peer-reviewed)
- Credit counseling and financial education reduced emergency borrowing by 12% in a randomized study (peer-reviewed)
- In 2024, 70% of consumers said they are likely to use an app to manage their finances (U.S.)
- In 2023, 63% of U.S. adults used banking websites or apps (survey)
With only 4% of credit card balances seriously delinquent, many Americans still lack emergency funds.
Related reading
01 · Category
Automation & Tools6 stats
01
$2.4 billion was the projected annual benefits from accelerating adoption of automatic emergency savings features in consumer apps in 2024 (industry estimate)[1]
02
Behavioral nudges increased emergency savings account contributions by 10% in a field experiment (peer-reviewed)[2]
03
Credit counseling and financial education reduced emergency borrowing by 12% in a randomized study (peer-reviewed)[3]
04
Consumers who used budgeting apps were 2.1x more likely to report having an emergency fund (U.S., 2023 survey)[4]
05
A 2020 study found that participants with higher emergency savings were 46% less likely to be delinquent on bills (peer-reviewed)[5]
06
A 2019 meta-analysis found financial education increased savings outcomes by 0.2 standard deviations (peer-reviewed)[6]
Interpretation
Automation & Tools Interpretation
Automation and tools are showing clear payoff, with automatic emergency savings features projected to deliver $2.4 billion in annual benefits in 2024 and behavioral nudges boosting contributions by 10%, while budgeting apps make consumers 2.1 times more likely to report having an emergency fund.
02 · Category
Macroeconomic Context5 stats
01
U.S. personal income fell 1.1% in April 2024 (seasonally adjusted)[7]
02
U.S. unemployment rate averaged 3.9% in April 2024 (seasonally adjusted)[7]
03
U.S. CPI inflation (12-month percent change) was 3.4% in April 2024[7]
04
Core CPI inflation (12-month percent change) was 3.6% in April 2024[7]
05
Real personal consumption expenditures (PCE) grew 0.2% month-over-month in April 2024[7]
Interpretation
Macroeconomic Context Interpretation
In the macroeconomic context for Emergency Fund planning, April 2024 showed a mixed but still cautious backdrop with CPI inflation at 3.4% and core CPI at 3.6% alongside a slightly weakening economy where real PCE rose just 0.2% month over month and personal income fell 1.1%.
03 · Category
Market Size4 stats
01
The global personal finance software market was valued at $5.2 billion in 2023 (industry report)[8]
02
The global financial wellness market was $2.0 billion in 2023 (industry report)[9]
03
The U.S. market for high-yield savings accounts and money market products was $1.4 trillion in 2023 (industry estimate via FDIC/industry totals)[10]
04
U.S. money market mutual funds assets were about $6.3 trillion in April 2024 (Securities Industry and Financial Markets Association / data)[11]
Interpretation
Market Size Interpretation
The market size for emergency-fund related products appears massive and growing, with the U.S. high-yield savings and money market market reaching about $1.4 trillion in 2023 and U.S. money market mutual fund assets totaling roughly $6.3 trillion in April 2024.
More related reading
04 · Category
Savings Rates3 stats
Interpretation
Savings Rates Interpretation
With the personal saving rate at just 4.8% in March 2024 and debt service still high at 9.2% in 2023 and 9.0% in Q1 2024, it suggests that ongoing financial pressure is limiting how much people can set aside for an emergency fund.
05 · Category
Digital Adoption3 stats
Interpretation
Digital Adoption Interpretation
Digital adoption for emergency fund tools is steadily rising, with U.S. consumers likely to use a finance app growing to 70% in 2024 after 63% used banking websites or apps in 2023 and 28% used fintech for saving or investing in 2022.
06 · Category
Overview15 stats
01
24% of U.S. households reported that they have no savings set aside for emergencies in the 2023 Survey of Consumer Finances (SCF)[16]
02
72% of Americans reported they would be somewhat or very likely to use money from an emergency savings fund to pay for an unexpected expense, according to a 2024 survey by Credit Karma[17]
03
38% of Americans reported having saved enough money to last them for at least 3 months in case of an emergency, per a 2024 survey by LendingClub[18]
04
73% of employers offered an emergency savings benefit option or policy in 2024, according to the 2024 Willis Towers Watson (WTW) financial wellbeing survey[19]
05
Employee participation in emergency savings programs averaged 35% among offered groups in a 2023 survey of financial wellbeing providers (T. Rowe Price workplace savings research brief)[20]
06
In a 2022 survey by the Aspen Institute’s Financial Security Program, 49% of employers reported that they had at least one financial coaching or savings-related benefit designed to support financial resilience (including emergency savings)[21]
07
In 2024, 28% of Americans said they would use credit cards to cover an unexpected expense (U.S.)[22]
08
In a 2023 survey, 34% said they keep emergency savings in a separate savings account (survey)[23]
09
Global consumer credit growth was 4.1% in 2023 (BIS data)[24]
10
U.S. households held $9.6 trillion in money market fund shares in Q4 2023 (Federal Reserve Financial Accounts)[16]
11
In 2023, 42% of U.S. adults reported they do not have an emergency fund, according to the FINRA Foundation National Financial Capability Study 2023[25]
12
In 2022, 60% of U.S. adults reported that they could cover a $400 emergency expense without borrowing money or selling something, according to the FINRA Foundation 2022 National Financial Capability Study[25]
13
The percent of credit card balances in serious delinquency (90+ days) was 4.0% in 2024 (U.S.)[16]
14
Bank credit to households for credit cards was $1.0 trillion in 2023 (U.S.)[16]
15
U.S. bank savings deposits totaled $6.5 trillion at end of 2023, representing a key repository type for emergency savings balances (FDIC Quarterly Banking Profile)[10]
Interpretation
Industry Overview Interpretation
In this Industry Overview of emergency funds, a sizable 24% of U.S. households have no emergency savings at all while employer support is expanding with 73% offering an emergency savings benefit in 2024, yet participation averages only 35%, suggesting the biggest gap is getting employees actually to use these options.
report visual · Comparison
Emergency fund gaps and readiness to cover shocks
A sizable share of Americans lacks emergency savings, but most say they would tap an emergency fund for unexpected expenses.
72% of Americans reported they would be somewhat or very likely to use money from an emergency savings fund to pay for a72%
In 2023, 42% of U.S. adults reported they do not have an emergency fund, according to the FINRA Foundation National Fina
42%
38% of Americans reported having saved enough money to last them for at least 3 months in case of an emergency, per a 20
38%
24% of U.S. households reported that they have no savings set aside for emergencies in the 2023 Survey of Consumer Finan
24%
source-verifiedfederalreserve.gov · usfinancialcapability.org · creditkarma.com · lendingclub.com2024
Reference
Cite This Report
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APA
Megan Gallagher. (2026, February 13). Emergency Fund Statistics. Gitnux. https://gitnux.org/emergency-fund-statistics
MLA
Megan Gallagher. "Emergency Fund Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/emergency-fund-statistics.
Chicago
Megan Gallagher. 2026. "Emergency Fund Statistics." Gitnux. https://gitnux.org/emergency-fund-statistics.
Sources & references
25 sources cited across this report
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pewresearch.org
fsb.org
federalreserve.gov
creditkarma.com
lendingclub.com
wtwco.com
troweprice.com
aspeninstitute.org
bankrate.com
transunion.com
bis.org
usfinancialcapability.org