Why can t 40 percent of Americans come up with 400 in emergency funds?

Because of the lack of good savings habits, I can't cope with the days after I have no income. The report also shows that about 28% of non-retired adults say that they have no savings and it is difficult to cope with life after retirement; 25% said they didn't have enough money to go to the hospital; Another 23% cannot afford to pay their bills after losing their job. This shows that another reason why they feel unhappy is:

Not enough savings to cover the debts after losing your job, and living in your later years after retirement. This anxiety of not having savings is gradually eating into the happiness of the average middle class in the United States. Even if they are not retired or unemployed, they already feel the fear of being dominated by debt.

A few days ago, the Federal Reserve released an investigative report, sayingAmerica's middle class is anxious and very unhappy! The report shows that although the U.S. economy has improved in recent years, there are still appointmentsThirty percentof people are facing financial problemsMany of them said they could barely get by. About 44 percent of the 12,000 respondents said it was difficult to pay $400 in cash for an emergency fund, which needed to be done by credit card or borrowing.

Their main financial burdens are medical expenses and student loansMore than half of those who have attended college said they are still paying off the debt. So they can't come up with emergency money.

First, the social security system in the United States is relatively perfect, and ordinary people dare to spend money if they dare to do so. The second is that people have this consumption habit and earn and spend as they go. I'm afraid this situation has been going on for some time, at least for a generation.

Third, I am afraid that it also shows that many people in the United States have indeed been poor in recent years, because in the past decade or so, the income of most people has not increased significantly, but their expenses have increased day by day.

Americans have no incentive to save money for old age. Americans have a pension when they are old, and if you are working in a stronger company and perform well, the company will also pay you a corporate annuity to improve the quality of your life in your later years. In addition, you can also buy commercial endowment insurance on your own.

The poor in the United States have basic social security and do not need to save their own money to survive. As long as the poor in the United States can enjoy the four benefits of low-income allowance, food stamps, health insurance and housing subsidies. So they don't have the habit of saving money.

Americans' finances are moving in a positive direction, but the report raises some concerns about Americans' financial stability and health: emergency spending and retirement spending. Greg McBride, chief financial analyst, said:

The survey found that 40 percent of U.S. adults are unable to come up with $400 for emergencies without borrowing or selling assets. Americans have not made any progress in terms of financial stability so far, and their finances will be unbalanced when unexpected spending comes along. ”

They are too indebted. In addition to indebted student loans, this group of middle-class people also has to face medical debt. According to statistics, more than 24 million people in the United States were in debt last year because of medical expenses, and the average emergency fee of $1,000 also made them afraid to get sick.

These liabilities have a significant impact on their spending behavior. In addition to lowering the standard of living, the most important thing is that it is difficult for most adults to buy a house around the age of 30. For the American middle class, the most representative symbol is to have a large "house".

If you can't even meet your basic needs, how can you be happy.

Americans are accustomed to spending tomorrow's money to enjoy today's ...... of lifeMany Chinese who have lived in the United States for a period of time, or have American friends around them, or have immigrated to the United States, will gradually find that there is a phenomenon in the United States - Americans have almost no savings, and their lives are almost entirely dependent on loans and banks! So they can't come up with emergency money.

It can be said that the level of education directly determines the level of income, and the higher the income, the happier it is. Since the 2008 financial crisis, the unemployment rate has been only 5 per cent for those with a bachelor's degree, 11 per cent for those who have not completed a bachelor's degree, and 16 per cent for those who have not completed upper secondary education. But it's not that simple, because not all Americans have enough money to go to college.

The average annual tuition fee of US$350,000 is equivalent to the total annual income of an average-income family. So in the United States, many college students use student loans to complete four years of study. Student loans have also become a major financial burden that many college students have to face as soon as they graduate.

People in developed countries love to spend, and people in developing countries love to save. The main reason is that the economic development of developed countries is generally consumption-driven, and personal consumption in the United States accounts for 70% of the total economy. At present, the average American has more than 8 credit cards, and spending tomorrow's money to enjoy today's life has gradually become an American consumption concept.

According to foreign media reports, the Federal Reserve's survey report shows that although the overall economic situation of the U.S. population has improved slightly, nearly one-third of the adults surveyed believe that they are facing economic difficulties or "barely able to live". Among them, the proportion of African-Americans and Hispanics facing economic hardship is still higher than that of whites.

According to the report, this annual report of the Federal Reserve assesses the economic situation of American households. 44% of respondents said they could not come up with $400 in case of an emergency, or they had to sell some items or borrow money from others to raise money.

The Fed surveyed a sample of about 12,000 people across the United States from 2013 to 2016. According to the report, medical expenses remain a major financial burden for the American public, with 10% of respondents saying they still have not paid off past medical bills.

In addition, young people who go to college have to face this thorny problem after graduation because they take out loans to pay for their tuition. More than half of those who have attended college said they are still paying off the debt.

Where do you ask from ** what you heard,,, 400 US dollars is only two or three thousand, and there are not so many Americans who can't come up with so much money for emergencies.