The median American household can barely afford a $400 emergency.

According to a Fed report released in May, 53% of American households could raise $400 to cover a financial emergency without selling property or paying the interest burden of borrowing money for more than a month.  That is a bit better than last year’s survey, but the median American still doesn’t have much financial padding.  Surprisingly, even a quarter of households with incomes that are greater than $100,000 (about double the median income) lack emergency funds that could cover $400 for a month without borrowing.