Only 16% of US small businesses plan investment in next 6 months, down 12 points in months, lowest since 2009; 40% of Americans said they have less than $500 in cash savings.

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Nearly 40% of Americans have less than $500 in cash savings, survey shows

Nearly 40% of Americans said that they have less than $500 in cash savings, according to a recent survey.

Additionally, more Americans said they are seeing their savings shrink amid ongoing inflation, high interest rates and a shaky job market.

“When prices rise and budgets tighten, something has to give, and often that something might be their savings. That’s certainly the case in many households today,” Matt Schulz, a LendingTree chief consumer analyst, said.