A Study Reveals Many Montanans Don't Save Enough For Emergencies - KFBB.com News, Sports and Weather

A Study Reveals Many Montanans Don't Save Enough For Emergencies

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A National economic study shows more than 40% of Montana households do not have enough saved to cover emergency expenses.

These families are considered "liquid asset poor," meaning they don't have enough money to survive three months of unemployment, a health crisis, or any other emergency. They are also below the poverty line by approximately $23,500 for a family of four.

In order for a family like this to be secure, this study suggests they will need close to $6,000 in savings to meet their basic needs for three months. But because many don't have this, the Missoula Food Bank offers their support.

Jessica Allred, a Missoula Food Bank employee says, "One in seven people in Missoula County are already in need of emergency food assistance without there being some sort of natural disaster or other emergency impacting their household."

The report also found, state policies have done very little to improve the financial security of Montana residents.

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