4 ms·
A lot of folks are going to take the traditional advice of having 6 months of living expenses in emergency savings seriously this time.
by drocer88 7y ago
A lot of folks are going to take the traditional advice of having 6 months of living expenses in emergency savings seriously this time.
- rwmj 7y agoHow? Many people are paid week to week and have just enough to get by.
- garraeth 7y agoI think the op is suggesting people will consider this once they are again financially stable (assuming they get to that point).
- PaulDavisThe1st 7y agoNot sure what that even means. Many studies over an extended period of time show that a majority of US households cannot deal with a US$400 emergency without taking on more debt.
- briandear 7y agoPerhaps they'll start reducing non-essential purchases. While many people are paycheck-to-paycheck, there are many of those same people that buy things they don't need and incur debts they shouldn't have incurred.
- _curious_ 7y agoExactly. It's like foreign concept to some people to consider the possibility of living within their means and making associated sacrifices.