NASHVILLE, Tenn.--A new survey from Bankrate found 74 million Americans have more in credit card debt than they do in emergency savings.
The financial services company surveyed over 1,000 people from January 29 through February 3, 2019.
They found 29% of Americans report having more credit card debt than emergency savings and just 40% have enough savings to pay for a $1,000 emergency expense.
44% of households reported having more in savings than debt, the lowest total in the 9 years Bankrate has been conducting the survey. The results also show emergency savings is less important to those surveyed. Just 43% said boosting emergency savings is a priority, a 10% drop compared to the 53% in 2018.