---
title: Americans Have a Hard Time Covering Emergency Expenses - WSJ - San Mateo Podiatry Group
description: "A recent Federal Reserve Board report aimed to paint a picture of American household finances following the recession—and it’s bleak, especially in situations that require cash. That’s likely because Americans have little savings: 57% of those who had savings prior to 2008 said they used up some or all of it following the recession, according…"
---

[Podiatry Blog](https://blog.sanmateopodiatrygroup.com)

# [Americans Have a Hard Time Covering Emergency Expenses - WSJ - San Mateo Podiatry Group](https://blog.sanmateopodiatrygroup.com/americans-have-a-hard-time-covering-emergency-expenses-wsj)

 Written by [Bill Metaxas](https://blog.sanmateopodiatrygroup.com/author/bill-metaxas) | 8/14/14 2:19 PM

A recent Federal Reserve Board report aimed to paint a picture of American household finances following the recession—and it’s bleak, especially in situations that require cash.

That’s likely because Americans have little savings: 57% of those who had savings prior to 2008 said they used up some or all of it following the recession, according to the report.

A recent report by bankrate.com showed that 1 in 4 had no savings at all.

Declining savings makes emergency expenses more difficult to cover.

According to the survey, only 48% of respondents would be able to cover an emergency expense of $400 without having to sell something or borrow. About 43% said they wouldn’t be able to afford a major medical expense out of pocket. Conducted by marketing research firm GfK, the survey asked 4,134 American adults about a wide range of economic details, including retirement savings, educational debt, medical expense and homeownership.

via [Americans Have a Hard Time Covering Emergency Expenses – The Numbers – WSJ](http://blogs.wsj.com/numbers/americans-have-a-hard-time-covering-emergency-expenses-1698/?mod=e2fb).

[View full post](https://blog.sanmateopodiatrygroup.com/americans-have-a-hard-time-covering-emergency-expenses-wsj)

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