Money
4 in 10 Americans Have Zero Dollars in Emergency Savings Right Now
Lewis Howes School of Greatness
The Psychology Behind Why You're Still Broke | George Kamel
What was said
"4 in 10 people have $0 in savings. That one kind of shook me, and it spoke to this idea that why are we going into crippling debt? Because we don't have the money to pay for the thing. And so there's this endless cycle."
Campbell revealed that 40% of Americans currently have no savings whatsoever, trapping them in a debt cycle where they must borrow for every unexpected expense. He argued this doom loop perpetuates financial insecurity across generations and called the emergency fund a never-go-into-debt-again insurance plan that most people fail to prioritize.
Verification status
Attributed speaker claim
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Source and context
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- Programme
- Lewis Howes School of Greatness
- Episode
- The Psychology Behind Why You're Still Broke | George Kamel
- Clip time
- 1:19:11
- Original source
- Watch the source segment →
From this episode
Lewis Howes School of Greatness