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11 Aug 2011 07:31 #45160
by chairman
NEW YORK (CNNMoney) -- When the unexpected strikes, most Americans aren't prepared to pay for it.
A majority, or 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.
Always tell someone how you feel because opportunities are lost in the blink of an eye but regret can last a lifetime.
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11 Aug 2011 08:41 #45163
by chairman
Only 36% said they would tap their
rainy day funds
for an emergency. The rest of the 2,700 people polled said that they would have to go to other extremes to cover an unexpected expense, such as borrowing money or taking out a cash advance on a credit card.
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The Unity Tiger
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11 Aug 2011 10:08 #45168
by The Unity Tiger
Budgeting for an emergency fund
Many respondents, 17%, said they would borrow money from friends or family. Another 17% said they would neglect other financial obligations -- like a credit card bill or mortgage payment -- in order to free up some funds.
Alternatively, 12% of the respondents said they would have to sell or pawn some assets to come up with $1,000 and 9% said they would need to take out a loan. Another 9% said they would get a cash advance from a credit card, according to the NFCC.
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mapoui
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11 Aug 2011 12:56 #45211
by mapoui
america is an abomination. everybody shud be seeing dat clearly by now...the greatest threat to the survival of the planet
I cud have lived there as long as 35 years ago but chose to stay in canada.
the temptation was great: lots of relatives there..tons of blac people and therefore a natural market for biz ventures..culturally more akin to my tastes...
but rabid capitalism and its social reality was not for me.
I fight back, take little, defend myself at all times. I see no reason for the way blac people behave and look always for ways out...
I prolly wud not have survive one stop and seach event by the police dat is routine over deah
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Re: Most Americans can't afford a $1,000 emergency expense
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