The statistic about how many people don't have $400 saved for emergencies blew my mind

I saw this figure from the Federal Reserve the other day, saying like 37% of adults couldn't cover a $400 emergency with cash. It made me think about all the little stuff that can go wrong, like a car tire blowing out or a water heater giving up. Has anyone else stumbled on a number that just stuck with you like that?

2 comments

2 Comments

valh3221d ago

Hits you right in the gut when you think about it, doesn't it. That number is wild because it's not just broke people either, it's folks with decent jobs too who are just one bad week away from being in trouble. Makes you realize how thin the line is for a whole lot of people between being fine and being totally screwed. A blown tire or a busted fridge can literally set someone back months, maybe even wreck their credit or make them lose their apartment. It's one of those stats that really sticks in your head because it's so easy to imagine it happening to you or someone you know.

hugo82520d ago

...and honestly it hits me right where I live because I'm pretty sure I'm that statistic. Ngl, I've got a decent paycheck but my savings account is basically just a running joke at this point. A blown tire would set me back so hard I'd probably have to start selling my stuff on Facebook Marketplace. Tbh, I'm one busted fridge away from moving back in with my parents and I'm 34 years old. It's scary but also kind of funny in a dark way when you realize how many of us are just pretending to have it together.