I know I'm not exactly flush, but thankfully I could just go to ATM and get that much, at least. The numbers here are frightening, though It's almost impossible to grasp that so many people ar so down on their luck - and finances - that they couldn't scrape even that much up. An AP-NORC poll found that more than one out of three American adults would have difficulty covering a $1,000 emergency expense, a figure that remained high even for higher-income households.
More recent reports from 2025 by Bankrate and CBS News indicate that while the exact percentage may fluctuate, a substantial portion of Americans still lack sufficient savings to cover unexpected $2,000 emergencies, with some suggesting nearly 60% cannot afford such an expense.
Contributing Factors including, but are not limited to levated prices due to inflation and rising interest rates are cited as factors making it harder for Americans to build emergency savings, even amidst low unemployment rates.
Those unable to raise cash like that are saying "Contributing Factors including, but are not limited to levated prices due to inflation and rising interest rates are cited as factors making it harder for Americans to build emergency savings, even amidst low unemployment rates." No mention of the daily Starbucks trip to buy hot flavored water, the want for the newest I phone or the payments on a vanity car.
ReplyDeleteBut they all have smart phones, satellite TV, big screen TV's, new cars and/or huge mortgages on homes.
ReplyDeleteI'm not sure about the validity of that particular figure, ($1000) since average rent seems to be above $1500.
ReplyDeletemaybe they can't come up with a grand is cuz they spend $6 bucks for a cup of coffee every day instead of using a thermos. or buying a twelve buck sandwich instead of packing their lunch
ReplyDeleteBeen like that for over 30 years. They just haven't told anyone that, unless there's a republican in the White House.
ReplyDeleteCan go to the safe in the hall and have a few grand on hand in seconds. And I am on Social Security so I don’t have big bucks coming in.
ReplyDelete