Households making more than $100k = 38% would have some difficulty coming up with $1000

[Proud Public Servant]

14. Misleading, moralistic headline

This isn't about being able to manage a $1000 expense; it's about having savings, which the article treats as an absolute good rather than a rational financial calculation.

Think about it. I'll use myself as an example. Money right now is very, very cheap, and credit is easy; interest on savings, however, is near 0% (and thus a net money-loser against inflation). As a result, there have been time recently -- for example, when my daughter was in college at VPU (Very Pricey University) -- when I wouldn't have been able to lay my hands on $1000 cash. But I could easy have borrowed that amount (my credit cards are empty and I have home equity) and could have fit servicing the resulting debt into my budget with very few if any lifestyle changes. So I rolled the dice, betting that I could always get money if I needed it, but I probably wouldn't need it and would much rather vacation in Barcelona. It's a rational decision, it worked for me, and I'll bet it's how many people in that income bracket are thinking about debt and savings.