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Millions Can’t Cover an Emergency Expense. Here’s How to Handle One

NerdWallet·Laura McMullen·18 days ago
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SOME CARD INFO MAY BE OUTDATED This page includes information about these cards, currently unavailable on NerdWallet. The information has been collected by NerdWallet and has not been provided or reviewed by the card issuer. For many people, a surprise expense isn’t just a setback — it’s an unsolvable puzzle. How can you pay the mechanic or doctor if you simply don’t have the money? That’s the reality for millions of people. Thirty-seven percent of adults couldn’t completely cover a $400 expense with cash or money in their bank account, according to the Fed’s Economic Well-Being of U.S. Households in 2025 report , released May 13. Situations like this are common. Nearly 6 in 10 adults had a major, unexpected expense in the past year, according to the report. Among those who knew the cost, the median was between $1,000 and $1,999. Financial advice often starts with building an emergency fund to cover these surprises.…

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