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An emergency expense can cause stress, but having savings could help. Find out how many Americans can't afford to pay for a $400 emergency with cash.
37% of Americans can’t afford an emergency expense over $400, according to Empower research, Empower. Accessed January 2, 2025. Accessed January 2, 2025. National Rates and Rate Caps , FDIC.
Despite the country's current low unemployment rate, the annual study found that 59% of Americans in 2025 don't have enough savings to cover an unexpected $1,000 emergency expense.
Yet according to a 2024 survey from Empower, nearly 37% of Americans aren’t prepared to handle a $400 emergency expense. These days it doesn’t take much to hit that relatively low threshold.
Last year, 43% of parents with children at home said they couldn’t cover a $400 emergency expense with cash — down from 50% in 2021. One possible reason is that the expanded Child Tax Credit ...
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A third of Americans say they cannot afford a $400 emergency expense in cash, according to research from Empower. That's an astounding number that reflects the financial challenges most Americans ...
Everything is expensive these days: housing, groceries, and utilities all cost more than they did in years past. Sometimes, on top of all the necessary bills we have to pay, emergencies expenses ...