- 36% of Americans lack confidence in their savings for unexpected expenses, according to TD Bank's 2025 Financial Preparedness Report.
- 72% of Americans have dealt with unexpected bills, with 59% of them going into debt as a result.
- 44% of Americans consider financial preparedness a daily priority, yet many lack retirement savings.
TD Bank's 2025 Financial Preparedness Report has revealed that a significant portion of Americans feel unprepared to handle financial emergencies. The survey, which included more than 5,000 U.S. adults, shows that 36% of respondents are not confident they have enough savings for unexpected bills. Additionally, 15% have no retirement savings, while 56% do not utilize retirement accounts like 401Ks or Roth IRAs.
The report highlights medical emergencies as a top financial concern, with 70% of participants ranking it as a priority for financial readiness. Despite recognizing the importance of healthcare expenses, only half of those surveyed feel prepared for these costs. The findings also indicate that 72% of Americans have been impacted by unforeseen bills, with 59% having incurred debt as a result, and 33% needing to reallocate savings to manage expenses.
Homeownership remains a cornerstone of the American Dream, with 90% of respondents aspiring to own a home. However, factors such as affordability (55%), cost of borrowing (32%), and economic uncertainty (29%) are significant hurdles for potential homebuyers.
Financial planning and budgeting are on the rise, with 81% of Americans taking steps toward financial health by reducing spending or creating budgets. Notably, 41% of respondents are either currently using or considering using a financial planner to enhance their financial preparedness. TD Bank (TD, Financial) continues to offer guidance and services to help customers achieve their financial goals, underscoring the importance of understanding current financial positions and planning for future needs.
