AMERICANS CAN’T AFFORD A $1,000 EMERGENCY EXPENSE

A recently released report stated that a significant amount of Americans would use other means, other than their own savings, in the event of an emergency expense that would cost them $1000 or more. The survey was conducted by the NFCC (National Foundation for Credit Counseling) where they polled 2,700 random Americans and asked them “If you needed $1,000 for an unplanned expense, where would you turn to find the money?

64% of Americans don’t have enough cash on hand to handle a $1,000 emergency expense, according to a survey by the National Foundation for Credit Counseling, or NFCC, released on Wednesday. Read more...