Advice for the Broke
Dec. 25th, 2022 11:43 amAccording to a survey conducted by the Board of Governors of the Federal Reserve System [2019, before the pandemic], 39% of Americans do not have enough savings to pay for an unexpected $400 expense without hardship, such as having to borrow money or failing to pay regular bills. The implication is that most Americans do not have the savings needed to move safely from one formal, legal housing situation into another, unless a new employer agrees to cover the costs. It costs far more than $400 to do that, especially long-distance, especially with a family.
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