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antigop

(12,778 posts)

2. Most Americans can't afford a $1,000 emergency expense

Fri May 15, 2015, 11:29 AM

May 2015

http://money.cnn.com/2011/08/10/pf/emergency_fund/index.htm
When the unexpected strikes, most Americans aren't prepared to pay for it.

A majority, or 64%, of Americans don't have enough cash on hand to handle a $1,000 emergency expense, according to a survey by the National Foundation for Credit Counseling, or NFCC, released on Wednesday.

Only 36% said they would tap their rainy day funds for an emergency. The rest of the 2,700 people polled said that they would have to go to other extremes to cover an unexpected expense, such as borrowing money or taking out a cash advance on a credit card.

"It's alarming," said Gail Cunningham, a spokeswoman for the Washington, DC-based non-profit. "For consumers who live paycheck to paycheck -- having spent tomorrow's money -- an unplanned expense can truly put them in financial distress," she noted.

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1 in 4 adults had insurance but still couldn�t afford medical care [View all] n2doc May 2015 OP

as I repeatedly have stated...it doesn't do you any good to have insurance you can't afford to use. antigop May 2015 #1

In a tiered health care system such flaws are features Dragonfli May 2015 #8

+1 daleanime May 2015 #20

+1 historylovr May 2015 #21

Very much on-target. Jackpine Radical May 2015 #23

I pointed out this obvious problem with a tiered system based on income Dragonfli May 2015 #33

Yes, but this is morally appalling Yo_Mama May 2015 #42

I don't disagree /nt Dragonfli May 2015 #43

And this is exactly how the insurance companies want it... CoffeeCat May 2015 #45

self delete--duplicate (nt) CoffeeCat May 2015 #46

Most Americans can't afford a $1,000 emergency expense antigop May 2015 #2

Unable to meet the deductible or the doctor antigop May 2015 #3

Health insurance finance reform is not Health Care reform Autumn May 2015 #4

AIA zipplewrath May 2015 #17

I can't afford to buy my insulin when I hit the gap in prescription coverage two months from now. In_The_Wind May 2015 #5

I'm so sorry, In_The_Wind Dont call me Shirley May 2015 #14

The sad fact is: I pay for Medicare and extra medical insurance. In_The_Wind May 2015 #18

Same here. Dont call me Shirley May 2015 #19

so sorry, In_The_Wind. So very sorry. nt antigop May 2015 #15

We're nowhere close to being done yet. It has to shake out somehow that people get the medical care brewens May 2015 #6

Just Plain Evil colsohlibgal May 2015 #7

here is the video antigop May 2015 #9

Have insurance CountAllVotes May 2015 #10

wow, Count, so sorry...I dream of the day when we live in a civilized society. nt antigop May 2015 #11

yeah it truly sucks CountAllVotes May 2015 #13

We went 5 months without a doctor. Hangingon May 2015 #36

Medicare E (E = Everyone) Dont call me Shirley May 2015 #12

Health insurance costs have ballooned for employers and city governments daredtowork May 2015 #16

Because we continue to try profit off of those who did health care..... daleanime May 2015 #22

I'm amazed that it's only 1 in 4. Orrex May 2015 #24

For lower/middle income it is about 1 in 3 - 32% Yo_Mama May 2015 #40

How many of those had decent food which might have prevented the need for "health care"? jtuck004 May 2015 #25

This message was self-deleted by its author 1000words May 2015 #26

Well put 1000. n/t fasttense May 2015 #27

+1,000 !!! CountAllVotes May 2015 #29

"Alas, we needed a leader ... and got just another politician." SMC22307 May 2015 #38

+1000000000 woo me with science May 2015 #57

I have insurance - it is far from inexpensive PumpkinAle May 2015 #28

That's me Half-Century Man May 2015 #30

Have you checked any Canadian pharmacies? brer cat May 2015 #47

I can believe this. redstatebluegirl May 2015 #31

I have to have surgery next week Spacemom May 2015 #32

Good luck, and a speedy recovery to you. SMC22307 May 2015 #39

kick. Liberal_in_LA May 2015 #34

K&R MadrasT May 2015 #35

When you look at the details it gets worse Yo_Mama May 2015 #37

Medicaid and all other plans should cover needed dental care (excluding primarily cosmetic). pnwmom May 2015 #41

Yep. We're still paying off 2013 and 2014 bills. progressoid May 2015 #44

Of those who file for bankruptcy for medical bills, most had insurance .... Scuba May 2015 #48

Single payer marym625 May 2015 #49

Am I the only one who ... 1StrongBlackMan May 2015 #50

What will be interesting is when the MIC and Big Pharma and Private Health Insurance all start djean111 May 2015 #51

adults who bought insurance on their own- KittyWampus May 2015 #52

Until there is full transparency of healthcare costs TexasBushwhacker May 2015 #53

Kick historylovr May 2015 #54

I had $6,000 out of pocket last year madville May 2015 #55

Plenty of "other countries", i.e. more advanced societies, sammythecat May 2015 #56

ACA still HUGE improvement over no ACA , but if you want real change,then you have to hit randys1 May 2015 #58

Medicare presents the same problem fadedrose May 2015 #59