Yet when faced with an unexpected $1,000 bill, a majority of Americans said they wouldn't be especially likely to pay with money on hand, the AP-NORC survey found. A third said they would have to borrow from a bank or from friends and family, or put the bill on a credit card. Thirteen percent would skip paying other bills, and 11 percent said they would likely not pay the bill at all.
Those numbers suggest that most American families do not have at least $1,000 stashed away in an accessible savings account, much less under their mattresses, to cover an emergency.
Seems like a potential stretch to me. I couldn't find the survey itself to see exactly how it was worded but I know from my situation I likely wouldn't pay the bill with money on hand but that has nothing to do with my ability to pay the bill or how much money I have 'stashed away'. That 33% group is categorized with options I wouldn't necessarily group together. For those needing to skip or not pay the bill thats one thing but I'd put it on a credit card long before I'd ask a friend or family member to borrow money (And then pay the card off as soon as the bill arrived) and I don't think using a credit card necessarily indicates the same level of 'inability to pay'
I'm part of a different nationwide survey panel, which wasn't used on this, and I came across similar questions. One part asked if I could cover each of the following amounts: $500, $1000, $5000, $10000 (choices from easily to very difficult). Then it asked how I would pay for each one. That ranged from borrowing from family, own savings to paying with credit card. I have money to cover all those ranges, so I chose I can pay "easily", but I chose "pay with credit card" on every level. Then each one asked if I will pay the credit card off immediately from savings, would hold a balance for x time, etc. I chose "immediately". My guess is that the survey above already took that in consideration and only reflect those who did not choose to pay immediately and kept a balance.
