The ability to save for the future is the foundation of financial health. Yet nearly half of Americans don’t have enough savings to cover emergency expenses, from minor medical needs to car repairs. That’s why the Financial Health Network is focused on research and innovations that will enable more people to meet life’s unexpected financial challenges.

Understanding Savings and Financial Health

In our work to date on short-term savings, the Financial Health Network has uncovered several key findings:

  • People who have established a regular savings habit are more likely to be financially healthy, regardless of how much they save.

  • Most Americans save whenever possible, but their average amounts in liquid savings accounts are fairly low.

  • Understanding demographic differences in how people save is key for designing effective savings solutions.

Data Spotlight

Why Savings Matter to Providers

By developing solutions to help more people save, financial services providers can impact the financial health of their customers. They can also ensure that savings help customers make appropriate use of other financial products, whether mortgages or retirement funds.

Financial service providers are not the only ones who should care about savings solutions, though. Employers are increasingly deploying tools like automatic paycheck deductions to make saving easier for workers, improving their financial well-being as well as workplace productivity.

How We Can Help

The Financial Health Network’s groundbreaking U.S. Financial Health Pulse offers new insights into consumer saving habits to inform effective product design. In addition, we’re working alongside industry thought leaders to build the next generation of savings products through initiatives like the Savings Project and our own Savings Working Group. Through these efforts, our goal is to help people establish a stronger safety net and a more secure financial future.

Explore All Related Research

Additional Research Topics

Financial health depends on a complex set of factors and circumstances. That’s why the Financial Health Network produces research in a variety of areas impacting our financial lives.