Credit Access Helps US Families Cover $400 Shock Bill in Study
- JPMorganChase Institute researched financial resilience
- Most can afford small expense with mix of cash, income, credit
Refrigerators for sale at a store in Orem, Utah.
Photographer: George Frey/BloombergThis article is for subscribers only.
Cash may be king but it isn’t the only indicator of financial resilience, according to research drawing on the bank records from 5.9 million American households.
Expanded access to short-term credit may provide low-income households with a crucial lifeline when faced with unexpected expenses, according to a report by JPMorganChase Institute released Tuesday.