The Secret Shame of Middle-Class AmericansSpecial Interest
Want to know how your financial picture stacks up with the rest of the country?
In a recent Federal Reserve survey, 47% of respondents said they couldn't come up with $400 for an emergency. They'd have to borrow the funds or sell something. Four. Hundred. Dollars.
The May 2016 issue of The Atlantic shines a spotlight on the financial fragility of Americans in The Secret Shame of Middle-Class Americans. Neal Gabler, who authored the article, notes that people are more afraid to expose their money problems than pretty much anything else...even sex. He itemizes a number of contributing factors for why society is so financially fragile and is refreshingly honest in sharing his own money struggles and the series of decisions which put him there.
It's a sobering read but worth your time if you want to better understand why so many Americans are in such a financial mess. Check it out: The Secret Shame of Middle-Class Americans.