Many Americans couldn’t pay $400 in a crunch
May 24, 2019
Thirty-nine percent of Americans would be unable to come up with $400 for an unexpected expense by using cash or a credit card they could pay off quickly, according to a new survey by the Federal Reserve. About 27 percent of people would need to borrow money or sell something to come up with $400, while 12 percent couldn’t pay it off under any circumstance. The good news behind the report is that the 61 percent who could cover an unexpected $400 expense has risen from 50 percent since the survey was started in 2013.
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