Over 40% of Kansans don't have enough in savings: survey

KANSAS (KSNT) - The most recent Fort Hays State University Kansas Speaks survey found many Kansans didn't have enough money in savings to cover monthly expenses, including housing.

Earlier this month, Fort Hays University published its Fall Kansas Speaks survey. The survey uses a panel of 645 adult Kansans to assess their opinions on a variety of topics. The majority of respondents said they didn't have any savings.

According to the study, 41.8% of Kansans responded that they don't have any money in savings. One-third of Kansans had enough saved up to cover one to three months of housing. Of those who responded, 19.4% said they could cover six months or more.

Most Kansans said they would have difficulty buying a home in their community. Almost 70% of Kansans surveyed said they were concerned about the cost of housing in their community.

When asked if they agreed that their community is adequately addressing housing issues, 36.9% disagreed or strongly disagreed.

The breakdown for primary living places:

• 41.4% were renting.
• 30.6% lived in a place owned by them or someone in the house who has a mortgage or loan.
• 22.2% had no mortgage or loan.
• 5.7% were living with someone without paying rent.

Those who were paying a mortgage, loan or renting were asked how much their monthly payment was:

• 18.8% said they pay $500 or less.
• 41.2% said they pay between $500 and $1,000.
• 25.8% said they pay between $1,001 and $1,500.
• 8.5% said they pay between $1,501 and $2,000.
• 5.8% said they pay more than $2,000.

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