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3. Food – $7,300
Food expenses such as groceries and eating out
Although inflation has cooled somewhat, prices remain high, which impacts people’s ability to save. Only 48 percent of U.S. adults say they have enough emergency savings to cover at least three months’ worth of expenses, a Bankrate survey found. What’s more, more than two-thirds of Americans (68 percent) said that when it comes to saving for unplanned expenses, inflation is causing them to save less, according to the same survey.
