The general rule used to be that you should have $400 set aside in an emergency fund to cover unexpected costs. The company LendingClub found that's no longer gonna cut it...
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.
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