Well this is fun: A survey this spring found 49% of Americans wouldn't be able to cover a $400 emergency expense. Now a new study says that's not really enough anyway . . . and the real target should be $1,400. (!!!)
The company LendingClub found that the hypothetical "$400" number isn't actually enough to cover most big, unexpected costs anymore.
In the last three months, 56% of emergency expenses required more than that . . . and the average was $1,447.
They say around $1,400 is the REAL amount you should try to have in reserve, just in case. But obviously that's easier said than done.
A poll last month found 59% of Americans are living paycheck-to-paycheck right now, up from 54% a year ago.
That even includes a lot of people we think of as "high-earners." 48% of Americans who make $150,000 to $200,000 a year say they're paycheck-to-paycheck.