Only around half of Americans have $1,000 saved for an emergency - but experts warn that creating a “financial escape plan” is essential for a host of difficult situations like a relationship going south, a troublesome roommate or a dead-end job.
“In my work with clients, I describe a ‘financial escape plan’ as a form of self-care and empowerment,” said Kiki Jacobson, a licensed mental health counselor who specializes in financial therapy.
