Federal Reserve Survey of Consumer Finances data show families with transaction accounts held an average of $62,900 in cash in 2025, but the median was only $8,200, as wealthy households pull the average up. The average fell 8% from the 2022 survey, and the median dropped 6% after adjusting for inflation. According to the FDIC, average rates in September 2026 were 0.07% for interest-bearing checking accounts and 0.37% for savings accounts, while consumer prices rose 3.7% over the 12 months ending in September. As an illustration, $10,000 at 0.07% would earn only about $7 in a year, so its purchasing power erodes. The article also says emergency funds often should cover three to six months of essential expenses, depending on individual circumstances.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Americans Have $62 , 900 in Cash on Average , Yet the Typical Family Holds Only $8 , 200 , Fed Data Shows
Read the original on ibtimes.co.uk ↗
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