People don’t have emergency funds because they didn’t create one, has nothing to do with the economy. People spend more than they make thus they live paycheck to paycheck. I know that’s not the case for everyone, some don't earn enough to save but the average family doesn’t save when they could.
Yes, lots of truth to that. People don't save well in America, and buy toys and try to keep up with the Joneses. For sure.
But part of the reason we don't have savings is our economy. Wages just aren't increasing much. That's the economy, as is the fact many people have two jobs just to pay bills and put food on the table. Heck, my last raise was less than the COLA (cost of living adjustment). My raise didn't even keep up with the cost of goods. That is most certainly a factor of the economy.
But we're also not really taking care of Americans financially right now. Kind of a "good luck, hope you make it", "thoughts and prayers" approach.