CGTN – Christine Loredo
The COVID-19 pandemic has shone a light on the financial preparedness of individuals and families, revealing that the average American’s financial situation is in a precarious state. Forty percent of Americans have less than $300 in savings, according to a 2021 GOBankingRates survey. Against the backdrop of record inflation and skyrocketing living costs, this figure does not paint a rosy picture of the average American’s financial health.