Study Finds That Half of Americans Would Struggle to Come Up with $2,000 in 30 Days

Could you come up with $2,000 within 30 days?

Let’s say that your car is giving you some problems, so you decide to take it into the shop. Your mechanic calls you with the bad news - the car is in dire need of repairs, and the work is expected to cost $2,000.

You need your car for work, so getting the repairs done isn’t even an option - you have to spend the money.

The question is - if you found yourself in this situation, could you come up with $2,000 within 30 days? This could include hitting up your relatives for a loan or using your credit cards.

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According to a new study done by the National Bureau of Economic Research (via Money.cnn.com), roughly half of those surveyed said that they would probably not be able to come up with $2,000 within 30 days.

To be exact, 28% of those surveyed were certain that they wouldn’t be able to come up with this money, with 22% said that they would probably not be able to come up with the $2,000.

According to the survey, just 25% of people said that they would have no problem coming up with the money.

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With high unemployment, high energy costs and high gas prices, it’s no wonder that many Americans would struggle to come up with $2,000 in 30 days.

But nearly half of Americans? That’s a pretty scary number that just illustrates the precarious situation that many American families currently find themselves in.

Source: National Bureau of Economic Research

Source: Money.cnn.com - Many Don’t Have $2,000 for a Rainy Day

Filed under: General Knowledge