While specifics vary between sources, reports share a common sentiment: people are ill-equipped to handle an financial emergency. Huffpost reports that 39% of Americans aren't able to handle an emergency of $1000; they go on to cite the Federal Reserve Board report from 2016 stating 44% of adults could not withstand a financial emergency of just $400. Meanwhile, Bankrate.com commissioned a report stating that 63% of adults would be in deep trouble if faced with an emergency of $500. These percentages do not paint an optimistic picture of the future.
This is a companion discussion topic for the original entry at https://blog.debtdecimator.com/percentage-of-folks-cant-afford-emergency/