At Sunny Day Fund, we often say that emergency savings are more than just a cushion — they’re a foundation for financial stability and wellbeing. Our latest Q3 data shows just how essential these savings are for employees navigating both everyday expenses and unexpected financial shocks.
Frequent Withdrawals for Everyday Needs
On average, our Savers are contributing about $200 per paycheck, with roughly a fifth making a withdrawal each month. These withdrawals typically fall in the $300–$400 range, highlighting how employees use their savings to manage real and recurring needs.
The top three categories driving withdrawals this quarter were:
- Housing & Utilities (23%)
- Healthcare (21%)
- Transportation (20%)
Together, these account for nearly two-thirds (64%) of all withdrawals. This underscores that emergency savings are not just for rare crises — they’re a critical tool to handle the financial pressures of daily life.
Larger Withdrawals for Financial Shocks
While most withdrawals are moderate and frequent, our data also reveals that employees occasionally face much larger expenses. The standout category here is Debt & Credit Cards, with an average withdrawal of $1,567 — by far the highest amount across all categories.
This suggests that when emergencies escalate into major financial disruptions, having accessible savings can make the difference between stability and spiraling debt.
The Takeaway for Employers
The data is clear: emergency savings aren’t a “nice-to-have” perk. They’re actively helping employees cover both everyday needs and unexpected shocks — building genuine financial resilience in the process.
For employers, enabling this kind of security goes beyond supporting financial wellness. It strengthens overall workforce wellbeing, engagement, and retention — ensuring employees can focus on their work, not just their worries.
Emergency savings are working. Are you helping your workforce build theirs?