It’s hard to argue with the value of a good savings account. After all, having Federal Deposit Insurance Corp. insurance means that your money is actually safer than it would be hidden under the proverbial mattress. And, with the advent of online banking, you can find plenty of high-yield savings accounts with an annual percentage yield of 2.00% or better. As dark clouds continue forming on the horizon for the U.S. economy, keeping a healthy emergency fund becomes even more important.

Despite all of this, a recent GOBankingRates survey of about 4,500 Americans indicated that roughly one-third of the population has no money in savings. Depending on where you live, your neighbors might be even more woefully unprepared for a recession: The proportion of Americans with no savings ranges from over 70% to under 20% in different states. While it’s important to note that the number of respondents from each state varied greatly — which is difficult to control — this survey data still provides some insight into regional differences in how much money people have socked away.