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I mentioned this article last night to my wife and she started panicking. I reassured he we had over a year's worth of savings if need be, but she wants to save more. I wonder if she will remember that when she is searching for the one scrapbooking tool she does not currently own?
The Fed asked respondents how they would pay for a $400 emergency. The answer: 47 percent of respondents said that either they would cover the expense by borrowing or selling something, or they would not be able to come up with the $400 at all. Four hundred dollars!