Less than 40% of Americans have the savings to cover a $1,000 expense

And such an expense is far from unusual. More than one-third of households, 34 percent, endured a major unexpected expense over the past year, according to Bankrate’s latest Financial Security Index survey, with only 39 percent saying they would cover a $1,000 blow with savings.

This is why we are so hot to have everyone we work with set aside and maintain a solid amount of cash for emergencies (and opportunities).

Click to read more Most Americans don't have enough savings to cover a $1K emergency

Less than 40% of Americans have the savings to cover a $1,000 expense