According to the National Bureau of Economic Research, nearly half of all Americans are considered “financially fragile.” What does this mean?  It means in an emergency situation they couldn’t come up with $2,000 unexpectedly in the next month, or would have to resort to desperate measures to come up with the money.

You would think it would be just a low-income problem. Well, it’s not.

A surprising number of middle class families – including 25 percent of those earning between $75,000 and $100,000 — are also “fragile.”  What’s even more distressing is it’s a bigger problem in America than in any other country.

Being financially fragile is just another way of saying, “you’re financially unhealthy and you’d better fix the situation fast before you die a slow financial death.”

Of course, there are other areas one should look at to determine total financial health, but saving for an emergency is one area that most people overlook.  If you find yourself saving for a vacation but have nothing put aside for an emergency, I suggest you reevaluate your priorities and start to pave the way towards greater financial health.  You won’t be sorry you did!

Give us a call for an evaluation today. Stop the cycle of living on the edge. We can be reached at (973) 440-8095 or you can email us at: info@myverticalvision.com