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Old Aug 10, 2011, 07:09 PM   #1
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Whiny Mooch
 
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Default Most Americans can't afford a $1,000 emergency expense

http://money.cnn.com/2011/08/10/pf/e....htm?iid=HP_LN

Quote:
When the unexpected strikes, most Americans aren't prepared to pay for it.
A majority, or 64%, of Americans don't have enough cash on hand to handle a $1,000 emergency expense, according to a survey by the National Foundation for Credit Counseling, or NFCC, released on Wednesday. Only 36% said they would tap their rainy day funds for an emergency.

An earlier study by the same organization found that 30% of Americans have zero dollars in non-retirement savings. A separate study by the National Bureau of Economic Research found that 50% of Americans would struggle to come up with $2,000 in a pinch.
Damn, that is bad. I didn't realize so many in America were living right on the edge.
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