Five years after the Great Recession, most Americans still haven’t established firm financial footing.

Only 22 percent of Americans have enough emergency savings to cover the recommended six months’ worth of expenses, according to a new report from Bankrate.com.

Of those surveyed, 21 percent had less than three months’ expenses saved.

Related: Americans Low Savings Rate a Bad Sign for Good Economy

“These results are further evidence that Americans remain woefully under-saved for unplanned expenses, and rather than progressing, are moving in the wrong direction,” Bankrate chief financial analyst Greg McBride said in a statement.

The number of Americans without any emergency savings reached a five-year high of 29 percent, up from 26 percent last year. Nearly a quarter of Americans said their savings had deteriorated in the past year.

Six months of emergency savings is the minimum amount recommended by many planners. Those with children or who have poor health or poor job security may need to an even larger emergency fund.

When an emergency hits those without an emergency fund, they often use credit cards or dip into retirement savings, both pricey options that can lead to further financial hardship.

A separate study released last month by BMO Harris Premier Services found that three quarters of consumers had dipped into their rainy day fund, with unexpected car and home repairs the most common reason cited.

Of those who had used emergency funds, about half replenished their savings within six months, while 20 percent never replaced the savings they had used.