WASHINGTON (CBS DC) – A survey has found that roughly 40 percent of Americans can’t come up with $2,000 if an emergency arises.
In the 2012 National Financial Capability Study by FINRA, 25,000 individuals were asked a series of questions about their finances and the amounts of debt they had.
Nearly 40 percent of survey participants answered that they weren’t “confident” about coming up with $2,000 if an unexpected need arose within the next month.
The survey also found that almost 60 percent of individuals in the country did not have three months of emergency funds that they could access to cover an emergency.
Only 20 percent of individuals surveyed reported that they strongly agreed to having too much debt when they answered a question about how much debt they have.
The survey was put into the field roughly three years after the Great Recession, House of Debt noted.