Little more than half of Americans have more money in their emergency savings accounts than the amount of credit card debt they owe, according to a new study.

A new survey released by Bankrate Inc., conducted by Princeton Research Associates, found that nearly one out of four Americans, or 23 percent, have greater credit card debt than emergency savings. Among people over the age of 65, 26 percent had neither debt nor savings, which was the highest percentage among age groups.

One out of three people from ages 30 to 49 had higher debt than savings, the highest proportion among the various age groups. At 59 percent, adults under the age of 30 were most likely to report their emergency fund was larger. Only 15 percent of people are more comfortable with their savings now than compared to 12 months ago.

“Nothing helps you sleep better at night than knowing you have money tucked away for a rainy day,” said senior financial analyst Greg McBride in a statement. “Yet only 52 percent of Americans have more in their rainy day funds than in credit card debt, and 19 percent have neither debt nor savings, which puts them one unplanned expense away from trouble.”

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