Nearly half of U.S. Households would struggle with an unexpected $400 expense, Fed study finds

Nearly half of U.S. Households would struggle with an unexpected $400 expense, Fed study finds

A study recently released by the Federal Reserve highlights the precarious financial situation in which many Americans find themselves. The study found that one in three Americans do not have any retirement savings or pension and that 46% of adults admitted that if faced with an unexpected $400 expense, they would be unable to pay for it or they would have to sell something or borrow the money to cover it. The Fed also pointed out that, as a whole, the financial situations of Americans have improved from prior years. However, the main differences between those whose financial situations have improved and those who are still struggling is largely divided along the lines of education. The primary divisions being between those with a Bachelors degree, those with only a High School Diploma and those without one.

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