Most Americans Can’t Afford $1,000 Emergency
A Bank rate survey finds that 56% of Americans can’t afford a $1,000 emergency.
In order to handle that emergency, 21% said they would use a credit card, 10% would borrow from loved ones and 4% would take out a personal loan.
63% said inflation is making it hard for them to save.
Two-thirds said they’d be “worried” about how to pay for next month’s living expenses if they lost their job today.
Credit Card debt outweighs savings for 1 in 3 Americans.