dave ramsey issues stark warning as new study reveals 78% of Americans lack emergency savings to cover a single financial emergency
Witnesses report the personal finance expert is urging immediate action following a Federal Reserve survey indicating most households are unprepared for unexpected expenses. "This is a crisis of financial fragility," Ramsey stated in a press conference. The study, conducted over the past month by the Consumer Financial Protection Bureau, involved 10,000 respondents and found that only 22% have sufficient funds for a $1,000 emergency. Experts note that this trend is exacerbated by high inflation and stagnant wage growth.