Mingli Zhong, a financial well-being expert at the Urban Institute, spoke with The New York Times about how in 2025, rising costs for essentials, such as groceries, utilities, and gas, made it difficult for families to save money. She said saving the equivalent of one month of income can often be an adequate buffer for many families: “Emergency savings is about preventing people from falling into poverty in the first place.”

For inquiries, please email [email protected].