The precarious state of Americans has been on the rise due to the pandemic, this has undermined the ability to save
Photo: Shutterstock
Less than 4 out of each 10 Americans have enough money set aside to cover an unexpected expense of $ 1, 000 dollars, such as a medical emergency or address issues related to the repair of a car, according to a survey.
The national survey, carried out in December by Bankrate and published today, illustrates the economic insecurity widespread after the Covid pandemic – 19, which has magnified a sharp rise in inequality in recent years 40 decades.
Consumer financial advice provider discovered than only the 39% of respondents could pay a surprise bill p or that amount, while another 38% would have to resort to the use of credit cards, family loans or other means.
Bankrate highlighted that the precarious state of the emergency savings of the Americans has been seen affected by the pandemic , since many citizens need to borrow to cover an unplanned expense that is in the range of $ 1, 000 dollars onwards unlike those who can pay it with their savings.
The increase The unemployment caused by business closings last year has forced many citizens to use their meager savings. The rise in infections of the Covid – 19, caused restaurants and bars will close, causing a drop in hiring in December.
On 18% of respondents said that, if necessary, they would finance an expense of $ 1, 000 dollars with a credit card and would pay for it over time, while the 12% would borrow from family or friends. Another 8% said they would request a personal loan .
Despite the bleak scenario, policy makers at the Federal Reserve believe there will be a recovery in the second half of the year once the Covid vaccine- 19 is widely distributed.
Americans, it seems, share that optimism, according to Bankrate. The 44% said they expect their finances to improve in 2021, compared to 14% you expect to get worse. While the 40% said they expect their finances stay more or less the same.
You may also be interested in: 8 million people will receive prepaid cards with the money from the second stimulus check
