Could You Come Up With $400? 41% Of Americans Can't

More than 4 in 10 Americans couldn't handle a $400 emergency expense without borrowing the money or selling something, according to the Federal Reserve's latest Report on the Economic Well-Being of U.S. Households.While this is a significant improvement over previous years, it's still a troubling statistic. After all, $400 in emergency savings isn't nearly enough to be adequately prepared for unexpected life events, so it's scary that so many people don't have it.Here's a rundown of the improving emergency savings situation in the U.S., how the other 41% of Americans would cover an emergency expense, and what you can do if your emergency savings cushion isn't quite where it should be.Continue reading

Topics:  federal reserve   report   economic well-being   households   u.s   americans   u.s    emergency   savings   expense   

 

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