Surprised but it's true, and even worse than the OP claim ($400), according to the Federal Reserve:
https://abcnews.go.com/US/10-americ...0-emergency-expense-federal/story?id=63253846
Medical costs are a huge part of this.
They do have that much, this for an emergency on top of their current bills. And the number that say they couldn't borrow or sell something for it is only 12%Don't have $500 in cash?
What about other assets that they could potentially liquidate? Coins, jewelry, electronics, collectibles, etc.?
Whose fault? Theirs.
I would guess that specific statistic is sometimes the fault of bad prioritizing. But I do also believe that many companies do not pay their workers fair wages for the amount of money the companies bring in. For example, nobody who works for a company like Walmart should be poor.
I do wonder though, if you paid those same 40% of people an extra $5,000 a year, what percentage of them would still not have $500 saved?
This stat was posted awhile back. Who is to blame for 40% of Americans not having 500 bucks? From what I remember, I think the poster blamed the US government.
"As long as I can create a hypothetical scenario in which the alleged victim of a system could have avoided victimization I have proven that it's no fault of the system." - The Usual Gang of Shergoof's
Literally 90% of these turds could find themselves in a stable financial situation with a plan and an ounce of discipline