The 1998 and 2001 Survey of Consumer Finances were used to compare the emergency fund adequacy of households. A low percentage of households met the 2-month, 3-month and 6-month income guidelines for the quick, intermediate, and comprehensive measures in both years. More than 50% of households did not meet any of the guidelines. There was no difference in likelihood of meeting the guidelines in 1998 and 2001. Results of the logistic regression indicated that age, education, income, marital status, race, homeownership, retired status, self-employment, savings horizon, spending behavior, and risk behavior were significant determinants of the likelihood of meeting the guidelines. Key words: emergency funds, financial preparedness of households, savings, Survey of Consumer Finances

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