I read that half of Americans couldn’t cover an unexpected $1,000 expense. This sounds crazy to me. I understand that poverty exists, but the idea that an adult with a job doesn’t even have that amount saved up seems really strange.
What’s your relationship or philosophy with money? What do you credit for your financial success, or alternatively, what do you blame for your failures?
For the extra brave ones: how much savings do you have, and what are you planning to do with them?
I can’t cover an unexpected 1k. Thats my entire bank account. Every month my paycheck is eaten by bills and obligations and every other month my rent raises while my salary stays the same. I have 1 dollar in my savings, but a 401k with 5k in it. I also have kids and a wife that stays at home to watch them. May not be the best financially but I can’t actually afford daycare to begin with.