Only 40% of Americans have a separate emergency savings fund, but most who do (81%) believe it will be enough to cover unexpected expenses in the coming year, the Consumer Federation of America found in a national survey of 1,000 people.

The young, poor and minorities are least likely to have such an account. Only 19% of those between the ages of 18 and 24 have such an account, 23% of those with household incomes of less than $25,000, 31% of African-Americans and 32% of Hispanic-Americans have an emergency savings account. But among those with household incomes of $75,000 or more, 58% have an emergency stash.

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