$250 doesn't go very far. It might fix a car part or pay for a couple of trips to the grocery store but it's not going to pay your rent, mortgage or doctor bill. Still, it's a magic number discovered by an Urban Institute study that can spell financial security. A summary of their report says this: a household that has a savings account will be better prepared against hardship, even if the sum is as low as $250.
If you view yourself as a truly independent and free-thinking person who makes your own decisions and doesn't follow the crowd, you might reasonably take some umbrage with a recent report that unceremoniously dumps most consumers together and essentially questions their thinking regarding revolving debt.
"[T]he middle class is eroded," financial services firm Morgan Stanley starkly concludes in a recently released report entitled "Mind the Inequality Gap."
What's the connection between debt collection companies and bankruptcy?
Financial-related data periodically compiled and reported via a national survey contain a wealth of interesting -- and, some might say, baffling -- information, especially as relates to consumer-reported debt that is accumulated by individuals and families.