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Staying on financial track isn’t easy, even in the best of circumstances. Throw in an unexpected/unplanned emergency, like an auto repair, large medical bill, natural disaster, etc. and it can wreak havoc on the family budget. A new survey by the National Bureau of Economic Research finds that half of Americans are NOT prepared for a minor financial emergency. In fact, according to the survey, 50 percent of Americans say they would struggle to come up with $2,000 to cover an unexpected emergency. And 60 percent say they would need to dip into savings, while 34 percent would have to ask family and friends. A startling 30 percent would have to resort to credit cards or loans.
Your Money. Your Matters is a weekly show broadcasting every Tuesday from 11 a.m. to noon Central Time. The program features radio personalities Rick Grady and Linda Webb-Manon, Texas Credit Union League; Todd Mark, Consumer Credit Counseling Services, and Courtney Nickles, Texas Credit Union Foundation. Each month, the four discuss financial issues of most importance to consumers.
This month, Your Money Your Matters, will continue its discussion on helping consumers get honest about their financial situation, and also offer insight into better preparing for the unexpected. Tune in; share your thoughts; or gain helpful advice.
It's good to talk.