According to Bankrate’s 2024 annual emergency savings report only 44% of U.S. adults would be able to pay an emergency expense of $1000 or more from their savings. That is not fantastic and shows that a high percentage of people are simply living paycheck to paycheck.
This number hasn’t really moved in several years. How do these folks without emergency savings pay for these unplanned expenses? The survey tells us that 35% would borrow money, including 21% financing with a credit card. The next 10% would try to borrow from family or friends and 4% would take out a personal loan.
Those are high cost options that play a part in making everything else harder. Therefore, work hard before an emergency and get some short term savings in place before you are forced to pay that same bill plus a whole lot more in interest!
Be disciplined!
As always, if you are looking for a gift for the young reader in your life, you can find some great children’s books on Amazon. Just go to these links The Desert Fairies of Oylara, The Rainforest Fairies of Oylara, and The Artic Fairies of Oylara and order them.
Additionally, I came across this very cool podcast on Spotify that everyone should check out called Gen X Dad and his Gen Z Teens. Entertaining!
Finally, check out some pretty cool music on YouTube if you have a few minutes: Introduction , Mosh, Smoke, Watch Out , and First Day Out. Enjoy!
Patient and Disciplined Saving 