is it true that half of americans cannot afford a $1000 unexpected bill? /u/VETEMENTS_COAT No such thing as stupid questions

People often mention that half the country can’t cover unexpected expenses, suggesting many don’t have $1,000 saved. Why is this? Where does the money people earn go? Are they not saving? Do they lack bank accounts or assets? I’m not wealthy, but I, like many others, have a bank account. Are people really that bad at saving and making smart financial choices?

People often mention that half the country can’t cover unexpected expenses, suggesting many don’t have $1,000 saved. Why is this? Where does the money people earn go? Are they not saving? Do they lack bank accounts or assets? I’m not wealthy, but I, like many others, have a bank account. Are people really that bad at saving and making smart financial choices?