Fewer than half of Americans have sufficient liquidity or access to funds to cover a $1,000 emergency expense, according to a new survey by Bankrate.
Thirty percent of respondents said they would pay an emergency expense of $1,000 from savings, while 17% said they would rely on their regular income or cash flow, Bankrate reported. A third of respondents said they would go into debt to cover the expense.
The survey also found that inflation poses a challenge for savings. Fifty-four percent of respondents said inflation is causing them to save less for emergencies. Income/unemployment (26%) and recent interest rate cuts (17%) were also cited as barriers.










