Nearly 7 in 10 Americans have less than $1,000 in savings

Nearly 7 in 10 Americans have less than $1,000 in savings:
"The U.S. is often referred to as the land of economic opportunity.
Apparently, it's also the land of consumption and "spend everything you've got."
We don't have to look far for confirmation that Americans are generally poor savers.
Every month the St. Louis Federal Reserve releases data on personal household savings rates.
In July 2016, the personal savings rate was just 5.7%.
Comparatively, personal savings rates in the U.S. 50 years ago were double where they are today, and nearly all developed countries have a higher personal savings rate than the United States.
...new data emerged this week from personal-finance news website GoBankingRates that shows just how dire Americans' savings habits really are.
...Last month GoBankingRates again posed the question to Americans of how much they had in their savings account, only this time it asked 7,052 people.
The result?
Nearly seven in 10 Americans (69%) had less than $1,000 in their savings account.
Breaking the survey data down a bit further, we find that 34% of Americans don't have a dime in their savings account, while another 35% have less than $1,000...