According to the 2015 National Financial Capability Study (NFCS), less than half of American consumers have put aside three months worth of emergency funds to deal with potential calamities. Similar results were found through other research, such as a 2014 study by Washington University in St. Louis that indicated nearly half of all Americans couldn’t come up with $2,000 within 30 days to cover a major illness or job layoff, leading to poor social, psychological and health outcomes for the entire household.
