Forty-four percent of Americans report they think about their financial preparedness every single day, yet 36% of Americans say they are not confident they have enough savings to cover unexpected bills. These significant findings are broken down in TD Bank’s inaugural Financial Preparedness Report, Consumer Index where more than 5,000 U.S. adults were surveyed to examine their financial challenges, saving habits, and the actions they are taking to improve their financial health. “With ongoing economic concerns top-of-mind for consumers, preparation is key to better ensure that you’re well-positioned in any climate,” said Allison Robinson, Head of Retail Distribution at TD Bank. “We aim to provide our customers with the guidance they need to help them achieve their financial goals, and the TD Consumer Index highlights some of the most pressing topics concerning consumers today.” Americans see illness or an unwelcome visit to the Emergency Room as the most critical time to be financially prepared, with seven in ten (70%) ranking it among their top three priorities for financial readiness. A majority (72%) of Americans have been impacted by unexpected bills, with 59% of these respondents having gone into debt as a result. Additionally, 33% had to reallocate part of their savings to cover costs. Despite acknowledging the significance of healthcare expenses, only half said they are prepared to cover those costs. Saving for retirement is important for an overwhelming majority of consumers (88% of respondents), yet almost half don’t feel ready for it (47%). That unease likely stems from respondents not setting aside monthly income for retirement (31%) or not using retirement accounts like a 401K or Roth IRA (56%), and shockingly, 15% do not have retirement savings at all. One-third of respondents who do not currently own a home have a negative outlook on their ability to purchase. Across all respondents, the top factors influencing homebuying decisions are affordability (55%), the cost of borrowing (32%), and concerns about economic uncertainty or job stability (29%).Eighty-one percent of Americans have taken steps to improve overall financial health, with the majority of respondents (55%) already reducing spending or creating a budget. Most (78%) indicated they use at least one resource to keep up with their budget, with banking and budgeting apps topping the list. Additionally, 41% of respondents either use or would consider using a financial planner or advisor to help with their financial preparedness. Those who currently work with an advisor are much more likely to feel prepared for unexpected car (72%) or home (69%) maintenance costs, as well as unforeseen medical expenses (66%). The Consumer Index covers a range of consumer behaviors including three standout categories: healthcare, retirement, and homeownership. In the coming weeks, the Financial Preparedness Report will release its Small Business Index.