Translate

Tuesday, May 24, 2011

Count me in the half that couldn't

Small rainy-day funds mean many could get drenched
How long would it take you to come up with $2,000 in cash? Could you do it at all?

Half of all U.S. households say they "certainly" or "probably" could not come up with the funds to cope with such an ordinary financial emergency, according to a new study on financial fragility.

The lack of emergency resources is not just a problem of the impoverished but also affects many “solidly middle-class” families, according to the study just published by the National Bureau of Economic Research. Of households making between $100,000 and $150,000 annually, nearly one-quarter said they "certainly" or "probably" would be unable to come up with the $2,000

No comments: