Less than half of Black and Hispanic adults are able to cover an unexpected expense: Share of adults who would cover a $400 emergency expense completely using cash or its equivalent by race and ethnicity
| White | Black | Hispanic | |
|---|---|---|---|
| 2019 | 71.2% | 43.1% | 45.2% |
| 2021 | 75.0% | 47.8% | 54.1% |
| 2024 | 71.0% | 42.9% | 46.9% |
Note: Race and ethnicity are mutually exclusive (i.e., white non-Hispanic, Black non-Hispanic, Hispanic any race).
Source: Author’s analysis of Board of Governors of the Federal Reserve System, Survey of Household Economics and Decisionmaking (Washington: Board of Governors, 2020, 2022, and 2025)