40 percent of adults can’t cover $400 emergency expense

Personal Finance

In general, the results mirror the economic expansion that’s occurred since the Federal Reserve began conducted the study in 2013. Fully 74 percent of respondents said they either were doing okay or living comfortably in 2017, up from 70 percent a year ago and 63 percent in 2013.

Nevertheless, saving can be tricky, especially for households already working with a tight budget. Debt — i.e., from credit cards, student loans — also can stand in the way of being able to set aside money regularly.

Overall consumer debt, excluding mortgages, is on track to reach $4 billion this year, according to recent data from LendingTree.

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