It is worth noting that these statistics never take into account people&#x27;s retirement funds. The survey also does not ask how much people have saved, but rather how much they have in their <i>Savings Account</i>. Many people keep all of their money in a checking account. Hence 1 in 5 people saying they don&#x27;t even have a savings account. This is a rather misleading statistic overall. But yes, most Americans do not save. They have absolutely no education when it comes to personal finance, and feel absolutely no responsibility to educate themselves. They honestly think they can figure out their budgets on their own. This is shown by a lot of other similar statistics as well as many books on personal finance. The reality is we live in a debt culture. Most people do not understand why savings is necessary not optional. When shit happens, they just think, &quot;There&#x27;s no way I could have prepared for that.&quot; But the reality is that shit always happens. That&#x27;s the whole purpose of saving.