Americans Rely More on Credit for Emergencies: Survey

Americans are saving less this year due to high inflation and rising interest rates against a backdrop of economic uncertainty. A recent Bankrate survey reports that a potential recession and layoffs could leave people unprepared for emergency expenses. The survey shows that 57 percent of the respondents currently can't afford a $1,000 emergency expense, and particularly concerning is the finding that 25 percent would put such an expense on a credit card.