When faced with an unexpected $1,000 expense, more than one-third of Americans would borrow the money, according to a new Bankrate survey. That may include tapping their credit cards, seeking money from friends or family or taking out a personal loan.
Most would not turn to cash savings because they don’t have it, the personal finance website found.
Fewer than half of Americans, 44%, say they can afford to pay a $1,000 emergency expense from their savings, according to Bankrate’s survey of more than 1,000 respondents conducted in December.
That is up from 43% in 2023, yet level when compared to 2022.
“We’re just not wired to save,” said Brad Klontz, a certified financial planner and expert in financial psychology and behavioral finance. Our brains are instead programmed to focus on our immediate needs.
Bull shit we’re not wired to save. This fool talks like the rich haven’t been stealing our wealth for the last 50 years and we aren’t left with nothing.
But then they say we waste our money because we have a fucking phone or the internet or avocado toast which last I checked avocados are pretty fucking cheap, as is bread. Like you can function in this world without having a phone or Internet, nowadays. Even homeless people have a fucking phone. Try finding a job without the internet or a phone.
We’ve been robbed our whole lives, and this fuck says that’s your fault.
When I was young I planned to be so smart about retirement.
I’ve yet to make enough money to even cover basic expenses all these years later.