Research has shown that most low- and moderate-income households have significant unmet emergency savings needs: They lack adequate financial resources to pay for unexpected expenditures such as car repairs or emergency dental treatment. Lowincome households report that they need around $1,500 in emergency savings. Yet less than one-third of these households have a savings account, less than three-tenths say they have emergency savings of at least $500, and the median account balance of those with a checking and/or savings account is only $600. Moderate-income households perceive typical emergency savings needs of $3,000. But less than half have a savings account, less than half say they have emergency savings of at least $500, and the median account balance of those with a checking and/or savings account is only $1,500.