Multiple governments have recently urged residents to stockpile up to 90 days' worth of essentials, leading to an increase in online conversations about prepping for potential disasters.
To see how Americans are responding, we conducted a survey of 3,056 people to determine whether they are preparing for major crises, such as natural disasters, political instability, or cyberattacks.
Key Findings
By absolute numbers, Californians are the most prepared for an emergency.
California leads the country, with the Golden State alone having approximately 5.4 million households actively preparing for an emergency. However, this is mostly due to the state’s highest overall population numbers.
When we rank states by percentage, the top 5 states are:
- Washington: 50% (1,532,410 households)
- Minnesota: 47% (1,089,870 households)
- Nebraska: 43% (346,890 households)
- Rhode Island: 43% (189,244 households)
- Indiana: 42% (1,143,583 households)
New England has some of the most varied figures in the country.
Take Rhode Island, for example. The Ocean State placed 4th nationally (43%), while nearby Vermont is at 14%, Maine at 19%, and New Hampshire at 23%. Connecticut reaches 37%, compared with 29% in neighboring Massachusetts.
Sharing a border, it turns out, doesn’t mean sharing the same approach to preparing.
Many anticipate a crisis.
Around 6 in 10 respondents believe a disruption that leaves them unable to buy essentials for at least a week is likely within the next five years. But anticipating a crisis isn’t the same as being ready for one: respondents rated their own preparedness just 5 out of 10, on average.
A week without groceries would test millions of households across the country.
37% of respondents said the food they have at home would last their household a week or less. For more than a third of households, that means a disruption lasting longer than a week could quickly become a “cliff edge” of food insecurity.
In a crisis, cash is king.
The survey revealed how much faith Americans have in cash during a crisis. When they were asked which asset they would trust most to preserve its financial value during a crisis, 47% chose physical cash. This was followed by bank or credit union savings accounts. In fact, cash emerged on top even when those two alternatives were combined.
People have little trust in cryptocurrency during a crisis.
Only 1% of respondents said they would trust crypto to maintain its value during a severe economic crisis.
Paying down debt is a long-term play for managing an emergency.
Respondents believe that having less debt during a crisis exposes them to less risk by reducing existing obligations. It appears that having an emergency fund is just one part of crisis management. The other is the bills that would keep coming during a crisis.
Many believe an upcoming crisis is likely to be caused by AI.
Our survey found that around 45% worry that AI could harm their household’s financial security over the next five years. However, one-third admit they have not taken any financial steps in preparation for an AI emergency. Just 12% have taken proactive steps to mitigate this.
Fewer people believe in AI’s financial upside compared to its downside.
Only 14% of respondents said they expect AI to improve their household’s financial security.
Final Thoughts
Preparing for a crisis is part of sound financial management. Households that create emergency funds and know what their essential monthly costs are will be in a far better position to weather a national emergency.
Our survey sought to gauge how concerned Americans are about a national emergency, but it does not predict that one will happen.
Much of good financial planning is anticipating events you can’t predict, and the long-term aim is to put yourself in a stronger position to absorb setbacks while still planning for the future.
| State |
Households That Have Stockpiled Supplies |
| Alabama |
576,130 |
| Alaska |
67,633 |
| Arizona |
892,525 |
| Arkansas |
301,498 |
| California |
5,419,240 |
| Colorado |
879,341 |
| Connecticut |
531,115 |
| Delaware |
150,764 |
| Florida |
3,569,107 |
| Georgia |
1,517,053 |
| Hawaii |
196,981 |
| Idaho |
285,202 |
| Illinois |
1,700,619 |
| Indiana |
1,143,583 |
| Iowa |
539,441 |
| Kansas |
391,353 |
| Kentucky |
483,859 |
| Louisiana |
588,515 |
| Maine |
111,967 |
| Maryland |
886,099 |
| Massachusetts |
819,129 |
| Michigan |
1,141,384 |
| Minnesota |
1,089,870 |
| Mississippi |
295,595 |
| Missouri |
802,634 |
| Montana |
131,103 |
| Nebraska |
346,890 |
| Nevada |
458,130 |
| New Hampshire |
128,267 |
| New Jersey |
1,025,328 |
| New Mexico |
322,082 |
| New York |
2,274,479 |
| North Carolina |
1,635,950 |
| North Dakota |
109,251 |
| Ohio |
1,993,908 |
| Oklahoma |
607,596 |
| Oregon |
698,108 |
| Pennsylvania |
1,270,584 |
| Rhode Island |
189,244 |
| South Carolina |
622,938 |
| South Dakota |
112,475 |
| Tennessee |
1,107,561 |
| Texas |
3,825,925 |
| Utah |
330,829 |
| Vermont |
39,059 |
| Virginia |
908,213 |
| Washington |
1,532,410 |
| West Virginia |
214,310 |
| Wisconsin |
1,003,599 |
| Wyoming |
81,106 |
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Like this article? Share it with a colleague.
Link copied to clipboard.
