A recent survey revealed this shocking fact: 40% of Americans have $500 or less in savings. If an emergency were to happen – like a broken washing machine or flat tires – nearly half of the adults in America would be hard-pressed to cover those costs. And that 40% includes people with large 401(k)s and big houses, too!
Looking to change your financial situation? Building an emergency savings is crucial to protecting your family against everyday mishaps – and is a first step in building wealth.
*philadelpha.cbslocal.com, October 19, 2012
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