Yes, says allisonschrager, too many US households are vulnerable to an unexpected expense. But there was never a golden era when everyone had enough savings (via opinion)
The data say nothing of the sort.
The figure is derived from the US, which asks households if they would cover a $400 emergency expense using cash or the available equivalent. In 2022, 63% of households said yes, down from 68% in 2021. The results reflect a draw-down of pandemic savings, fewer government benefits and high inflation.
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