Survey: 52% of Midwesterners lack rainy day funds

DETROIT - A recent survey shows that the majority of Midwesterners wouldn’t have enough money to cover their living expenses if they lost their job.

Pew Research Center surveyed a group of Americans this summer to learn more about their sense of financial security.

Pew provided Fox Television Stations with a more specific data set showing results for Midwest respondents.

Survey finds unstable finances for many in Midwest

No rainy day funds:

The survey results show that many in the Midwest feel their financial footing is unstable.

For instance, 52% of respondents said they don’t have rainy day funds set aside to cover three months of their living expenses.

According to Pew, that largely mirrors national results. 53% of respondents gave the same response in national polling.

Cutting out extras:

Per the survey, most Midwesterners are making efforts to cut down on their nonessential living costs.

In total, 67% of Midwestern respondents said that in the past year, they’ve cut back spending on extras such as eating out, streaming services or other entertainment costs.

In national polling, 70% of Americans said they made efforts to trim those same expenses.

Not enough income:

Per the Pew survey, 57% of Midwesterners say they do not have enough income to lead the kind of life they want.

For comparison, 60% of national respondents gave the same answer.

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