Question: What Percentage of Americans Have LESS Than $400 In Emergency Fund?

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Answer: 47%

From Wall Street Journal:

But for many Americans, household finances remain fragile: 47% said they wouldn’t be able to cover a $400 emergency expense or would have to borrow money or sell something, and 31% said they went without some form of medical care in the last year because they couldn’t afford it.

That may go a long way towards explaining why banks collect so much in overdraft fees (see earlier post), credit card companies were expected to earn revenue over $158 billion for 2014 and payday lending is such a growth industry.

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Check out this NGPF Activity on Setting Savings Goals!