Many Americans lack adequate savings: report

New York

MORE than half of US households have less than one month of income available in readily accessible savings to use in case of an emergency, a new report from the Pew Charitable Trusts finds.

Many financial advisers recommend that families have a savings account holding three to six months' income, in case of a job loss or an unexpected major expense. But regardless of income level, the report found, most Americans lack the recommended level of savings.