Has Your Emergency Savings Stash Grown? It Might Be Time For A Reality Check

The emergency savings stash for baby boomers and Gen Xers especially is likely to have fallen this year, Bankrate study shows.

magnifying glass over a dollar bill
(Image credit: Getty Images)

Inflation and rising prices aren’t just hurting consumers at the grocery store and gas pump. They are also halting accumulation of crucial emergency savings, a new survey by Bankrate found. 

According to the survey of 2,500 Americans conducted last month, many households have even less in emergency savings now than they did at the beginning of the year, with nearly half of respondents citing inflation and rising prices as the culprit. Other factors included high levels of expenses, debt and interest rates

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Jamie Feldman

Jamie Feldman is a journalist, essayist and content creator. After building a byline as a lifestyle editor for HuffPost, her articles and editorials have since appeared in Cosmopolitan, Betches, Nylon, Bustle, Parade, and Well+Good. Her journey out of credit card debt, which she chronicles on TikTok, has amassed a loyal social media following. Her story has been featured in Fortune, Business Insider and on The Today Show, NBC Nightly News, CBS News, and NPR. She is currently producing a podcast on the same topic and living in Brooklyn, New York.