Survey: 20% Of Americans Say They ‘Don’t Follow A Monthly Budget’

Unsplash/Pete Bellis

Research has found that 31 percent of Americans have at least six months’ worth of money put aside for emergencies, but recent data from Comet Financial Intelligence shows that 20 percent don’t use a budget to keep track of their money over the course of a month and 23 percent don’t even have a savings account.

Relying on “self-reported data,” Comet surveyed 1,002 people using Amazon’s Mechanical Turk.

These are the areas where people fall short with their money

While 67 percent of people surveyed say they haven’t been to “a financial seminar or program,” just under one-quarter of them say they don’t have a financial savings account.

Many people also don’t seem to have a clue about what it’s like to be a financial advisor.

The 10 things that freak people out the most when it comes to money

The most popular worry is putting money away for retirement at 63.4 percent, while the least popular one is “frivolous spending” at 16.3 percent. Being able to go on a major trip is also a concern for people surveyed.

 

What you do with your money is ultimately your choice, but act wisely — how you use it can have a huge impact on your quality of life.

This article originally appeared on Ladders written by Jane Burnett.