A $400 Emergency Fund Isn't Enough Anymore . . . Now It's

Well this is fun: A survey this spring found 49% of Americans wouldn't be able to cover a $400 emergency expense. Now a new study says that's not really enough anyway . . . and the real target should be $1,400.


The company LendingClub found that the hypothetical "$400" number isn't actually enough to cover most big, unexpected costs anymore.


In the last three months, 56% of emergency expenses required more than that . . . and the average was $1,447.


They say around $1,400 is the REAL amount you should try to have in reserve, just in case. But obviously that's easier said than done.


A poll last month found 59% of Americans are living paycheck-to-paycheck right now, up from 54% a year ago.


That even includes a lot of people we think of as "high-earners." 48% of Americans who make $150,000 to $200,000 a year say they're paycheck-to-paycheck. 


(PR Newswire)

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