Later in the article, it says: “The more surprising finding is that a material fraction of seemingly ‘middle class’ Americans also judge themselves to be financially fragile"
If this is an accurate reflection of the study, I'd like to know what percentage constitutes the "material fraction" of the middle class Americans who probably can't raise $2000 in an emergency.
As I rethink it, maybe it is correct.
A couple months ago I had a car repair bill around 2 grand. I paid with my debit card and got a strange look. The same thing happened when I bought my daughter a good digital camera, a little over $500. I paid with my debit card and got the same look.
What is “raising $2000?” Putting it on a credit card?
That’s the salient question.