26% of U.S. workers have less than a month of savings, Quikaid study finds

A new Quikaid survey of 1,000 employed or recently employed U.S. adults finds that thin savings, workplace pressure and low awareness of disability benefits are pushing many workers to stay on the job through pain, illness and burnout. The findings point to a widening gap between income protections workers need and the support they know how to use.

Why it matters: - A missed paycheck can trigger a fast-moving financial crisis for many U.S. workers. - The study suggests many employees are choosing between their health and their income when illness, injury or burnout interrupts work. - The findings show a broad gap between financial vulnerability and awareness of tools meant to soften an income loss.

What happened: - Quikaid surveyed 1,000 U.S. adults who are currently employed or have worked within the past two years. - The study examined savings, working through illness or injury, income-loss coping strategies, employer benefit awareness and attitudes toward disability support. - Twenty-six percent of respondents said they have less than one month of savings for essential expenses if income stopped today. - Thirteen percent said they would hit a financial emergency in less than two weeks. - Six percent said they have no savings at all. - Seventy-six percent said they have worked through pain, burnout, illness or another health risk because they felt they could not afford to stop. - Thirty-eight percent said they have already lost income because of injury, illness or an ongoing health condition.

The details: - More than one-third of workers, 38%, said they have less than one month of expenses saved after losing income. - Lower-income workers were the most exposed, with 39% saying they have less than one month of expenses saved. - Fifteen percent of lower-income workers said they have no savings at all. - Among workers earning more than $100,000 a year, 15% said they have less than one month of expenses saved. - Fifty-seven percent of workers earning $100,000 or more said they have over one year of expenses saved. - Thirty percent of women said they have less than one month of expenses saved, compared with 21% of men. - Nine percent of women said they have no savings, compared with 3% of men. - Fifty-six percent said they kept working because they could not afford to lose income. - Forty-two percent said they feared falling behind on essential expenses. - Forty-one percent said taking time off could threaten their job security. - Thirty-seven percent said they continued working in significant physical pain. - Forty-two percent said they worked through serious mental health challenges. - Twenty-four percent said they downplayed the severity of an injury or health condition. - Fourteen percent said they avoided reporting a workplace injury because of income or job-security concerns. - Twenty-seven percent said they did not have enough paid sick leave to recover properly. - Women were more likely to work through stress, burnout or mental health challenges, at 44% versus 33% of men. - Men were more likely to avoid reporting workplace injuries, at 16% versus 11% of women. - Seventy percent of lower-income workers said they could not afford to stop working, compared with 37% of high-income workers. - After losing income, 42% said they cut back on food. - Another 42% said they took on credit card debt. - Forty percent said they borrowed money from family or friends. - Thirty percent said they sold personal belongings or other assets. - Twenty-six percent said they skipped or postponed medical care. - Twenty percent said they reduced or stopped retirement contributions. - Seventeen percent said they withdrew from or borrowed against retirement savings. - Sixteen percent said they missed or deferred a rent or mortgage payment. - Only 12% said they applied for government assistance. - Forty-six percent said they had built general savings before an income loss. - Thirty-three percent said they had created a dedicated emergency fund. - Other workers said they had reviewed employer disability plans, planned to rely on a partner or family member, or explored additional income protections. - Sixteen percent said their employer does not provide disability insurance, workers’ compensation or paid sick leave beyond the legal minimum. - Fourteen percent said they are self-employed or independent contractors without employer protections. - Twenty-nine percent of lower-income workers said they have no employer-provided income protections, compared with 10% of middle-income workers and 8% of high-income workers. - Forty percent said they would not know whether they qualify for disability support. - Twenty-four percent said they would not know where to begin the application process. - Thirty-seven percent said they are very familiar with what their disability benefits cover. - Thirty-two percent said they understand how long it could take to receive support. - Forty-nine percent said their employer does not encourage the use of income-protection benefits. - Thirty-three percent said they would wait until after losing income to explore their options. - Nineteen percent said they would wait more than one month after losing income before exploring disability benefits. - Seven percent said they would not pursue support at all. - Forty-four percent said they have never seriously considered disability benefits. - Fifty-seven percent said they do not believe disability benefits would be enough to cover essential expenses. - Seventy percent said disability support is difficult to rely on over the long term. - Sixty-six percent said they would be willing to pursue benefits if they received professional guidance. - Forty-eight percent said using disability benefits could limit future opportunities. - Forty-one percent said they would be treated differently or excluded by colleagues or managers. - About half said they trust their employer to prioritize health over productivity. - Forty-seven percent said they have felt pressure to minimize or hide a health issue at work. - Forty-nine percent said their employer does not actively communicate about disability or income-protection benefits. - Fifty-seven percent said they would feel comfortable using available benefits. - Fifty-three percent said their employer would support them in doing so. - Fifty-nine percent said their employer would support an extended period of recovery. - Among workers who have lost income because of illness or injury, 72% said the financial damage was greater than expected. - Thirty-six percent said it was much worse than anticipated. - Five percent said the experience was less financially damaging than expected. - The study said credit card balances, missed housing payments, delayed medical care, loans and reduced retirement savings can turn a temporary interruption into a lasting setback. - Quikaid said savings alone are not enough for many workers because many do not earn enough to build a substantial emergency fund. - The company said employer communication, paid leave, disability coverage, workers’ compensation and public benefits all help people recover without long-term financial damage. - The company said clearer information can make existing protections more useful and help workers avoid delays in seeking support.

Between the lines: - The survey points to a structural problem, not just a personal finance problem. - Workers may know they need protection, but many do not know what they qualify for or how to start the process. - Fear of career consequences appears to be keeping some people from using benefits even when they might need them. - The results also suggest that low savings and low benefit awareness reinforce each other, especially for lower-income workers and women.

What's next: - Quikaid says workers can reduce delays by understanding available options before an emergency occurs. - Employers may need to make benefit information easier to find and easier to understand. - The study suggests clearer guidance could help more workers take time to recover and return in better health. - View the full study