Survey: Most Americans Fail the Emergency-Fund Test
On Bankrate.com, June 21, 2006, Benjamin Tobias was quoted in the article Survey: Most Americans Fail the Emergency-Fund Test by Laura Bruce. Many experts believe people should have three to six months of living expenses in an emergency fund to combat unexpected unemployment or major medical expenses. However, only four out of ten Americans have sufficient emergency accounts according to this survey. Ben warned, “When it comes to the general public, most people are absolutely not safe in a financial emergency.”