Two-Thirds of Americans Would Struggle to Cover $1,000 Emergency: Poll.

[Free Vulcan]

NEW YORK (AP) — Two-thirds of Americans would have difficulty coming up with the money to cover a $1,000 emergency, according to an exclusive poll released Thursday, a signal that despite years of recovery from the Great Recession, Americans’ financial conditions remain precarious as ever.

These financial difficulties span all income levels, according to the poll conducted by The Associated Press-NORC Center for Public Affairs Research. Seventy-five percent of people in households making less than $50,000 a year would have difficulty coming up with $1,000 to cover an unexpected bill. But when income rose to between $50,000 and $100,000, the difficulty decreased only modestly to 67 percent.

Even for the country’s wealthiest 20 percent — households making more than $100,000 a year — 38 percent say they would have at least some difficulty coming up with $1,000...

Read more: http://www.theblaze.com/stories/2016/05/19/two-thirds-of-americans-would-struggle-to-cover-1000-emergency-poll/

[Resp3]

I've seen a number of these types of reports over the years.

Let's see here - where is that TBR pic that applies.....

 

Ahh. There it is.

[mirraflake]

I've seen a number of these types of reports over the years.

Let's see here - where is that TBR pic that applies.....

 

Ahh. There it is.

I am in the finance and health care biz and trust me this is true. 75 or 80% of American people have less than $25,00 in savings upon retirement.

[Resp3]

I am in the finance and health care biz and trust me this is true. 75 or 80% of American people have less than $25,00 in savings upon retirement.

Sure, but 75 or 80% of those people DO HAVE laptops, smart phones, big screens, designer sneakers and so on.

Fact is - it is relatively easy for most Americans to come up with emergency cash if the want to.

[montanajoe]

Sure, but 75 or 80% of those people DO HAVE laptops, smart phones, big screens, designer sneakers and so on.

Fact is - it is relatively easy for most Americans to come up with emergency cash if the want to.

It's relatively easy for most Americans to charge a thousand bucks on their credit card. I've seen the same polls over the years and polls on the savings rate and they are always about the same. I suspect these polls are done by groups trying to get Americans to save more. A lost cause IMHO...

[Fishrrman]

montana joe wrote:
"It's relatively easy for most Americans to charge a thousand bucks on their credit card..."

Easy to charge, but how many can easily pay it off at the end of the month?

The same comment could be made about the U.S. government, today!

(BTW, I -always- pay my CC bill in full when the bill comes, regardless of how much it is...)

[Bill Cipher]

montana joe wrote:
"It's relatively easy for most Americans to charge a thousand bucks on their credit card..."

Easy to charge, but how many can easily pay it off at the end of the month?

The same comment could be made about the U.S. government, today!

(BTW, I -always- pay my CC bill in full when the bill comes, regardless of how much it is...)

The article doesn't disallow the use of a credit card for emergency cash and in fact implies that a lot of Americans have maxxed out their credit cards as well. 

Emergency cash is in fact one of the good reasons for carrying a card.