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Spin. From the actual survey data at https://www.federalreserve.gov/consumerscommunities/files/SHED_2017codebook.pdf https://www.federalreserve.gov/consumerscom
by mid 8y ago
Spin. From the actual survey data at https://www.federalreserve.gov/consumerscommunities/files/SHED_2017codebook.pdf https://www.federalreserve.gov/consumerscommunities/files/SH..., page 6:
Overall, which one of the following best describes how well you are managing financially these days?
14 (0.1%): Refused
893 (7.2%): Finding it difficult to get by
2,395 (19.2%): Just getting by
4,930 (39.6%): Doing okay
4,215 (33.9%): Living comfortably
- babaganoosh89 8y agoAre you sure that's right? I don't get how that adds up to 40%.
- veidr 8y agoIf 40% of people can't find $400 in a pinch, then it means at least some of those people self-reporting as "Doing OK" still can't find $400 in an emergency.
- oldcynic 8y agoHow is it spin? Just means there are a lot of people who believe doing OK encompasses having less than $400 ready cash. I might call it blind optimism seeing as pg 21 of the same PDF shows the sources they would consider to fund an emergency expense, but not spin.