Nearly eight years into an economic recovery, nearly half of Americans say they don’t have enough cash to cover a $400 emergency; 23 percent can’t afford to pay their monthly bills in full; and a quarter have skipped medical treatments due to the cost, a new Fed study shows.
“According to the Fed’s latest annual “household well-being” report, 23% of US adults are not able to pay all of their current month’s bills in full while 44% of respondents said they wouldn’t be able to cover an unexpected $400 expense like a car repair or medical bill.”
