May
2012
Tuesday, August 16, 2011
Jessica Dickler, CNNMoney

Survey finds Most Americans can’t afford a $1,000 emergency expense

[CNNMoney] According to a survey by the National Foundation for Credit Counseling, or NFCC, released on August 10,2011, a majority, or 64%, of Americans don't have enough cash on hand to handle a $1,000 emergency expense.

[excerpt] Only 36% said they would tap their rainy day funds for an emergency. The rest of the 2,700 people polled said that they would have to go to other extremes to cover an unexpected expense, such as borrowing money or taking out a cash advance on a credit card.

Something is entirely broken in this country when more than half the population would struggle simply to cover a medical bill.

Posted by Editor on 08/16/11 at 09:34 AM •  (0) Comments

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