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Category: Personal Finance

Most Americans couldn’t come up with $1000 to cover a serious emergency

According to a jaw dropping poll by Associated Press, two-thirds of Americans would have difficulty coming up with the money to cover a $1,000 emergency, such as a medical bill.   They quoted Caroline Ratcliffe, a senior fellow at the Urban Institute focusing on poverty and emergency savings issues:
“The more we learn about the balance sheets of Americans, it becomes quite alarming… people are extremely vulnerable if they don’t have savings and it’s a cost to taxpayers as well. Lack of savings can lead to homelessness, or other problems.”
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