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Is it deceiving? "The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover th
by Johnny555 10y ago
Is it deceiving?
"The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all."
http://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/ http://www.theatlantic.com/magazine/archive/2016/05/my-secre...
- pharrlax 10y agoDo stocks count as "something"?
- eli 10y agoDo many people invested heavily in the stock market not also have $400 in cash or equivalent?
- rsmsky1 10y agoMaybe they were joking, who knows. That same thing said that people making $100,000-$150,000 couldn't come up with $2,000 when asked on the street or something like that. Probably if someone asks me these questions on the street I'm not going to be honest either.
- namlem 10y agoSo 22% do have savings, just not in their savings account.