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40% of Americans Are Just One Missed Paycheck Away from Poverty

“Millions of middle-class Americans are just one missed paycheck away from poverty.”

Prosperity Now recently published a series of shocking statistics on the financial health of the average American household. Their findings:

  • 4 in 10 Americans are “liquid-asset poor,” meaning financially unprepared for any unexpected disruption in income
  • 1 in 10 American households fell behind on their bills within the past year
  • 4 in 10 adults experienced “material hardship” of some kind in 2017
  • 1/3 of households lack basic savings
  • Less than 60% of households are saving in case of emergency
  • Median home values are four times higher than median incomes
  • 50% of Americans who rent housing spend more than 1/3 of their income on rent and/or utilities

These statistics tie into the immense difficulty the average family faces when struck with the financial implications of a medical crisis. As Prosperity Now reported:

  • 13% of Americans skip seeing a physician because of the cost of care
Written by Emily Progin