Whether it’s a busted refrigerator, car trouble or medical issues, unexpected costs are a part of life. But even such routine curveballs often spell serious financial trouble for many Americans.
That’s according to a new Bankrate report that surveyed more than 1,000 U.S. adults about their ability to handle a surprise bill. Despite the country’s current low unemployment rate, the annual study found that 59% of Americans in 2025 don’t have enough savings to cover an unexpected $1,000 emergency expense.
Isn’t that like a week’s groceries going bad because the fridge broke for him?
Probably even less. For most people, a fridge repair and losing a week’s worth of groceries will break them.
In any case, Musk will be just fine, financially. His ego is another matter.
https://www.cbsnews.com/news/saving-money-emergency-expenses-2025/