In the wake of the global Covid-19 pandemic, we’ve all learned to expect the unexpected. Yet according to a 2024 survey from Empower, nearly 37% of Americans aren’t prepared to handle a $400 emergency expense.
These days it doesn’t take much to hit that relatively low threshold. A fender bender, a bad fall, or a power outage is all it takes—and when interest payments are factored into the equation, you stand to lose more and more over time. That’s why everybody needs an emergency fund set aside to pay for life’s unexpected expenses.
