Two-thirds of Americans wouldn't survive a financial emergency

By Tiffany Hsu, LA Times
Thursday, July 19th, 2012

If the standard financial wisdom is true – that surviving a financial catastrophe requires a 6-month cache of emergency savings – then two-thirds of Americans may be in for a nasty surprise.

Only a quarter of U.S. adults have more than six months of funds set aside and readily accessible for such disasters; 28% had none at all, according to Bankrate.com.

Of the 1,000 survey respondents, 17% said they had three to five months of expenses squirreled away in case of job loss, sudden medical bills or other unexpected events; 9% didn’t answer the question.

http://www.latimes.com/business/money/la-fi-mo-savings-20120625,0,721360...