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Most Americans Unprepared for Financial Emergencies: Over 60% have less than $1,000 in Savings

from Off Grid Survival:

According to a new study, most Americans are incredibly unprepared to face even small-scale financial emergencies. In fact, according to a recent Google Consumer Survey approximately 62% of Americans have less than $1,000 in savings. The numbers are backed up by another recent survey conducted by Bankrate.comthat found 62% of Americans have no emergency savings for emergencies like a $1,000 emergency room visit or even a $500 vehicle repair.

While these numbers may be shocking to some, they are actually not that surprising when you look at the numbers.

The American public has been hurting for quite some time, and the supposed economic recovery never really quite worked out the way they said it would. According to new numbers from the Social Security Administration, over 51% of all workers in the United States now make less than $30,000 a year. To put those numbers into perspective, the federal government sets the poverty level at $28,410 for a family of five.

Americans are struggling, and despite the constant government propaganda campaign, trying to convince the public that the economy is in recovery mode, things have only gotten worse since the 2008 financial banking meltdown.

  • According to the Census Bureau, the number of children receiving food stamps remains higher than it was before the start of the Great Recession in 2007. Approximately one out of every five kids in the U.S. now receives federal food stamp benefits.
  • 65 Percent of U.S. children live in households that receives some form of aid from at least one or moreof the following government aid programs: Temporary Assistance for Needy Families (TANF), the Supplemental Nutrition Assistance Program (SNAP), the Special Supplemental Nutrition Program for Women, Infants, and Children (WIC), Medicaid, and the National School Lunch Program.
  • By the end of President Obama’s term in office, The United States will have over $20 Trillion in National Debt.

I’ve written a number of articles telling people how to prepare for the coming collapse of the economy, but the reality of the situation is that most Americans are already teetering on the edge of a financial crisis.

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