Here’s why so many Americans can’t come up with $400 to pay for an unexpected expense

Here’s why so many Americans can’t come up with $400 to pay for an unexpected expense

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The statistic is used to show how unequal things have become in the U.S.: Some 40% of Americans would struggle to come up with even $400 to pay for an unexpected bill.
If — or, more likely, when — they’re confronted with such an expense, they’d probably have to sell something or go into debt. The now oft-cited figure comes from the Federal Reserve’s 2018…

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