According to the Federal Reserve, 46 percent of Americans wouldn't be able to deal with an unexpected $ 400
expense without borrowing money or selling something.
Not exact matches
You probably won't be able to afford repairs or unexpected
expenses without borrowing even more
money.
In a 2017 Federal Reserve survey, many investors (44 %) reported that they would not be able to cover a $ 400 emergency
expense without selling something or
borrowing money.
Without one, you're vulnerable to getting caught up in the high - interest debt trap because you may have to
borrow money on a credit card to meet surprise
expenses that outstrip your budget.
Being able to handle unexpected
expenses —
without taking on debtDebt
Money that you have
borrowed.
You can thus
borrow the
money for any kind of
expense without having to provide an explanation, and you do not have to undergo intense scrutiny or a stringent approval process.