A new survey says a majority of employees are working on an emergency fund, though few think they might lose their job in the next three months.
Last week we wrote that few plan to switch jobs next year. Now we have more evidence people are feeling confident about job security, and they’re also building financial security.
Insurance company Country Financial commissioned a survey of 1,235 employees and found almost four in five did not fear losing their jobs before year’s end. That’s “a nine-point improvement from the depths of the recession in 2009,” the survey says.
Even so, many are prioritizing savings to create an emergency fund. More than 50 percent claim to be working on it, and most want to save up half a year’s salary.
One demographic is a little more worried, but also may be finding it harder to save. Thirty percent of those surveyed making between $20,000 and $40,000 are concerned about job loss in the near future, but only 50 percent are making saving a priority.