50% of Americans Couldn't Come Up with $2000

[tw]

Meanwhile, Stormieweather described a process that everyone should aspire. A process of moving from debtor to creditor means maintaining a cash flow without 9% and 20+% interest rates.

Originally Posted by Stormieweather

I've spent the last decade (since a nasty divorce and subsequently losing my job) getting square again, financially. I work two jobs, make decent money, RENT a nice house and have no credit card debt. My only debt obligation is 1 car payment. It will be paid off in 2 years and I do not plan to ever finance a vehicle again.

Why would 50% not be able to pay $2000 today? Does that mean 50% are even maxxed out on credit cards? That article does not say - is too subjective.

I believe most can get $2000 at any time. Even a loan shark is an alternative. The article is probably ignoring loan sharks, the 'get money today for your future tax refund' outlets, and other emergency money outlets. But again, we cannot say for sure. The article does not define 'the edge'. Does it even ignore a loan shark option?

More important. Do 50% have no grasp of financial responsibility demonstrated by Stormieweather? The article implies that. I find it difficult to believe 50% are that financially ignorant.

Stormieweather defines what every financially responsible adult aspires. To move from debtor to creditor. Anyone working towards that goal could easily obtain $2000. But resulting fees, penalties, and interest charges would be a setback to the lifelong task of 'moving from debtor to creditor'.

50% of Americans could not even get money from a loan shark? I find that difficult to believe. But again, hard numbers remain unknown. Still it is curious (or distressing) that so many still have so little. Or have been so manipulated by advertising as to make Capital One so profitable.