Fewer than half of Black adults say they could use savings to cover expenses for 3 months if they lost their income

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January 31, 2024

2. How Black Americans view financial success

Fewer than half of Black adults say they could use savings to cover expenses for 3 months if they lost their income

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Fewer than half of Black adults say they could use savings to cover expenses for 3 months if they lost their income

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2. How Black Americans view financial success
Most Black adults say being debt-free and having enough money are essential to their definition of financial success
Black adults with more education, income feel more prepared for a sudden loss of income
Bills, debt and saving for retirement are the top three economic worries Black adults experience on a daily or near daily basis
More than half of Black adults experience at least one economic worry on a daily or near daily basis
Most Black adults say their personal financial situation is only fair or poor
Being debt-free and having enough money to do things they want to do are essential to Black Americans’ definition of financial success

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ABOUT PEW RESEARCH CENTER Pew Research Center is a nonpartisan fact tank that informs the public about the issues, attitudes and trends shaping the world. It conducts public opinion polling, demographic research, media content analysis and other empirical social science research. Pew Research Center does not take policy positions. It is a subsidiary of The Pew Charitable Trusts.

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