can you come up with $400 in an emergency

[Laith Ali]

Hi,

I was reading an article a few days ago that said 40% of Americans can't come up with $400 if they had an emergency. I couldn't believe almost half the country is that broke. The median household income is 60k, so where is the money going. Was Senator Chuck Grassley right that they were spending it on booze and women lol. I usually don't spend more than 1000 a month. I own my own place so there is no mortgage and I'm single. Please let me know if you could come up with a $400 in an emergency and what your expenses are.

-200--food

-400- car payment, gas and insurance

-100- utilities

-100- internet and phone

-200-- property taxes and house maintenance

Total

-1000

[Leon F.]

it's not that wild when you think about regular people with low paying jobs and kids. $15/hr 40 hours a week =$600 (if u get40hrs. After taxes 600 is more like $500. So you got $2000/ month. rent: $600-700 car payment $200-300 gas$$$100 (low) car insurance$100-200 cell phone$100 utilities: gas/electric/water$200 more than half of your monthly income is already eaten up before grocery and other incidentals. add in a child or 2 or 3 that you have to feed and clothe, send to daycare or buy pampers etc and suddenly it's not so hard to see why people are broke. that's why check advance tote places exist. allot of people are out here living check to check literally and any little hiccup can throw everything off track.