Back in May, the National Bureau of Economic Research (NBER) released a study which revealed that almost half of Americans would either probably or definitely be unable to come up with $2,000 in a month if the case of an emergency. This study really shed light on the fragile financial environment that we live in today. Now, the National Foundation for Credit Counseling (NFCC) has released the results of a similar survey, but with the amount of money needed in 30 days being $1,000. While the survey offered different answers to choose from, the results were very similar to NBER’s findings.
…64 percent of Americans would utilize a source other than their savings account to satisfy a $1,000 unplanned expense.
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[...] that Americans are coming up short, struggling to make ends meet for several months at a time. It was just reported that 64 percent of Americans would utilize a source other than their savings account to satisfy a [...]