Photo: empty glass box says break glass in case of emergency

Imagine that the water heater breaks in your house, or that your car won’t start in the morning when you try to drive to work. Do you know how you’d pay for such an unexpected expense? Believe it or not, a majority of Americans can’t answer that question with a “yes.” According to a recent survey we conducted at SecureSave involving more than 1,000 respondents, 67 percent of Americans have no way to cover a $400 emergency.

This is a big deal for employers because it has ripple effects not only impacting employees’ long-term retirement savings, but also their ability to be productive at work: Thirty percent of survey respondents spend one to two hours every day worrying about money, and 75 percent say that this financial stress is hampering their work productivity.

Why are so many Americans experiencing this financial stress? Persistent inflation and rising costs of living are one big factor: Consumer prices rose 6.5 percent year-over-year between 2022 and 2023, and 65 percent of Americans surveyed said that inflation was the variable with the biggest impact on their finances.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2023 ALM Global, LLC. All Rights Reserved.