Though Americans are feeling better about their overall financial health, the percentage of people that have no savings is at a five-year high, according to a survey by Bankrate.com.
Of 1,000 adults surveyed, 29 percent reported having no savings. That’s up from 26 percent a year ago, and the highest percentage since 2010, Bankrate said. Only 22 percent reported having enough savings to pay for six months of expenses.
Adults under age 30 were the most likely age group to have a savings cushion.
Meanwhile, Bankrate’s Financial Security Index for June stood at 104.5, up 3 percent from a year ago. The index, which measures feelings on job security, net worth, comfort level with debt and overall financial situation, has been in positive territory for more than a year.
