The coronavirus outbreak has hit many Americans hard, as many have lost their jobs and most of their income. So how long can most people in the U.S. survive on their savings? Turns out, not very many.
More than three-quarters of all Americans live paycheck to paycheck, and almost half could afford an unexpected $1,000 expense with their savings. In times of crisis, things get tight financially, and citizens are asked to live off what they have saved, especially if they have lost their jobs. But rather than save, most Americans are very quick to blow their entire paycheck on amenities.