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Half Of Americans Unable To Spare $100 In An Emergency

May 18, 2017

A new survey found that almost half of Americans are not financially able to handle an emergency if it required $100 cash, while almost a 1/3 worry about any unexpected monthly expenses, even as little as $10. The Bloomberg survey highlights concerns of stability in the workforce with only 45% of workers stating they do not know the exact amount of their paycheck from week to week and month to month. Those uncertain finances, along with stagnant wages and low savings are heighted further with 83% of Americans say they could not pay an unexpected cash payment of $1,000.  Experts say families should have at least 6 months of savings readily available in the event of an emergency.  However it isn't all doom and gloom, 73% expect their kids will make more money than they do and 61% saying they expect to make more money in the near future.

SOURCE: The Consumerist

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