According to Forbes, more than one in four Americans, or 28%, have less than $1,000 in savings. To put this into perspective, the average rent in the U.S. is $1,372, which means a significant portion of the population doesn’t even have enough saved to cover one month’s rent if an emergency were to arise. This is a stark reminder of the importance of having an emergency fund—more than $1,000—set aside for life’s unexpected challenges.
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