New Bankrate Survey Finds 54% of Americans Have More Savings Than Credit Card Debt

Bankrate has previously conducted surveys which suggested that millions of Americans wouldn't be able to handle a simple financial emergency, without reaching out to ask for help from others. Other investigations into the financial health of Americans has also uncovered the same.

It could be something as small as $400 and they wouldn't be ready for that emergency.

But after COVID-19 changed everything, this pushed many people to reconsider their finances and try to build new habits.

Now, more are looking to get into financial shape so that they are not going to ever find themselves in the same situation. Especially for those who might have lost their jobs, being in that situation when you are facing a mountain of debt is reason enough to try to foster other habits like that of saving.

Previous Bankrate surveys have found that about 3 in 10 Americans have more credit card debt than savings but that is changing.

A new Bankrate survey suggests that today at least 54 percent of Americans now have more money saved on the side for an emergency than they have in credit card debt.

This growth in the prevalence of people who would be ready to handle an unexpected emergency demonstrates that millions of Americans are trying to build better habits as far as their finances are concerned. That's one good thing to come out of the negative that COVID-19 brought with it.

not to be considered financial advice.
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