Over Half of Americans Have An Emergency Savings Fund

Over Half of Americans Have An Emergency Savings Fund

FNBO Shares Saving Strategies as New Survey Findings Unveil State Of Financial Wellness In America

OMAHA, Neb.– FNBO (First National Bank of Omaha) today released the results of its 2024 Financial Wellness Survey, along with a series of tips to help consumers save and ultimately better navigate the financial landscape. The latest in FNBO’s series of consumer surveys, the 2024 Financial Wellness Survey spans a wide range of topics – from saving and budgeting to the U.S. economy outlook and more.

While many Americans have a strong financial foundation, the survey results underscore the continued importance of FNBO’s stated purpose, which is to improve the financial well-being of its customers and ensure the success of all the communities it calls home.
"With both inflation and broader economic uncertainty continuing to linger, cultivating smart and sound personal finance habits is as essential as ever. While every Americans’ financial journey and circumstances may be unique, building a solid foundation in saving and budgeting, along with bolstering strong financial literacy skills, will always go a long way in paving the path to long-term financial success," said Regina DeMars, Financial Insights Specialist at FNBO.

The survey found that over half of Americans have at least $10K saved for retirement. Additionally, when asked about their financial situation this year compared to 2023, 47% said it is about the same, and 32% said better.
Additional findings include:

• Economic Outlook: 38% of Americans say they have a negative outlook of the U.S. economy through year-end, 33% say neutral, and 29% say positive.
• Savings & Debt: 56% of Americans say they are able to pay their credit card bill in full each month. 55% of Americans have an emergency fund that is worth at least 3 months of expenses, and 45% of Americans are living paycheck to paycheck.
• Revenue Streams: 53% of Americans have at least one source of passive income.

To help consumers achieve their financial goals, FNBO released the following saving strategies:

• Secure Your Finances: Plan for the unexpected by allocating a portion of each paycheck to build up your emergency fund.
• Make a Plan: Create a weekly budget and stick to it diligently. At the end of each month, review your budget and make adjustments accordingly.
• Budget with Boundaries: Evaluate past bank statements and identify unnecessary expenses, then set financial boundaries for yourself by limiting those nonessential expenses, such as unused subscriptions.

This is the latest survey in FNBO’s Consumer Financial Trends series. For additional financial tips, visit the Cashology blog on FNBO’s website.

METHODOLOGY
This survey was conducted online using Suzy among a national sample of 1,000+ adults spanning across U.S. geographic regions and income levels. The survey sample was weighted to reflect the gender distribution and the age distribution across the 18-44 and 45+ age brackets in U.S. census data.

About FNBO
FNBO (First National Bank of Omaha), a subsidiary of First National of Nebraska, Inc. (FNNI), is one of the largest privately held banks in the US and has been in business for more than 165 years. FNNI and its affiliates have over $30 billion in assets and 5,000 employees. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota, Texas and Wyoming, providing personal and business banking, mortgage, payment solutions, wealth management and more. As the great big, small bank founded in 1857, FNBO has maintained its commitment to customers and helping build strong communities. Learn more at FNBO.com and connect on Facebook, X and Instagram. Only deposit products are FDIC insured. Member FDIC.

For information contact:
Sally Christensen
402-871-1933
schristensen@fnbo.com