Most Americans can't afford a $1,000 emergency expense

[The Straight Story]

Most Americans can't afford a $1,000 emergency expense

NEW YORK (CNNMoney) -- When the unexpected strikes, most Americans aren't prepared to pay for it.

A majority, or 64%, of Americans don't have enough cash on hand to handle a $1,000 emergency expense, according to a survey by the National Foundation for Credit Counseling, or NFCC, released on Wednesday.

Only 36% said they would tap their rainy day funds for an emergency. The rest of the 2,700 people polled said that they would have to go to other extremes to cover an unexpected expense, such as borrowing money or taking out a cash advance on a credit card.

"It's alarming," said Gail Cunningham, a spokeswoman for the Washington, DC-based non-profit. "For consumers who live paycheck to paycheck -- having spent tomorrow's money -- an unplanned expense can truly put them in financial distress," she noted.

http://money.cnn.com/2011/08/10/pf/emergency_fund/index.htm?hpt=hp_t2

[Rosa Luxemburg]

1. healthcare free at the point of use is essential and a right of the people

Republicans just don't get it.

[Lindsay]

2. To Republicans, the only rights

are the right to be born and the right to die, apparently.

[Rosa Luxemburg]

6. but they want the healthcare corporations to make money out of you along the way

[TBF]

4. Apparently dems don't get it either - we are still lacking universal health care. nt

[Rosa Luxemburg]

7. we have too many right wingers in the Democratic Party

[HughBeaumont]

3. Blowing up the Middle East and making sure rich people are happy are FAR more important!!!

How is Ken Lewis to get through the year if he doesn't have his beachfront property with a fantastic view to set his mind at ease? And an America that isn't at war with someone or something, no matter how non-threatening, is not an America I want to live in!!

Priorities, people. Priorities.

[midnight]

5. O just let them take it out of there pea fund....

If it's alarming reading about it, try living like that.... Or better yet work to restore all the money that has been fraudulently taken away from the working people..

[Rosa Luxemburg]

8. my Republican neighbor

my GOP neighbor who always blames poor people for the deficit and says that universal healthcare is too expensive lost her job. Since then she has had two major operations and other treatment. AS far I know she had no Cobra. She tells me that she may be 'downsizing' (it probably means she can't pay her mortgage). Sad, but I wonder will she ask for government services?

[Lorien]

10. One repub associate of mine was very vocal against universal healthcare and a public

option because she said "my husband gets his care at the VA and it's awful!" I countered that awful care was generally better than none. Recently she had to go into the hospital and was stuck with a huge co-pay from her insurance company that her family couldn't cover, so her daughter set up a paypal account for her and begged for donations from her FB friends. I have to wonder if she still believes that a public option would be such a terrible thing.

[Rosa Luxemburg]

11. These people still don't get it

what would have happened if she didn't have FB friends? Would she be on a street corner?

[reggie the dog]

9. i would have to rob someone

but then who would want my filthy stolen money...