Saw this article today, and got a kick out of it...
47% of Americans would have to Borrow or Sell Something to Cover an Unexpected Expense of $400
*This study was only done for the U.S. but I'm sure the same applies to Canada, and many others as well.
An unfortunate reality many people live in. Even though the economy isn't as great as it could be, there is no way the majority of this percentile could argue that they are correctly using their income. Selling things to cover unexpected costs 95% of the time means that you shouldn't have gotten those things in the first place; you can't afford it!
At least putting together an emergency stack of cash would the smart thing to do in these 'what if' scenarios.
47% of Americans would have to Borrow or Sell Something to Cover an Unexpected Expense of $400
*This study was only done for the U.S. but I'm sure the same applies to Canada, and many others as well.
An unfortunate reality many people live in. Even though the economy isn't as great as it could be, there is no way the majority of this percentile could argue that they are correctly using their income. Selling things to cover unexpected costs 95% of the time means that you shouldn't have gotten those things in the first place; you can't afford it!
At least putting together an emergency stack of cash would the smart thing to do in these 'what if' scenarios.
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