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Consumer watchdog: 43% of adults are struggling to make ends meet

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In this Wednesday, Sept. 30, 2015 photo, from left, Jo Armstrong, Julie Armstrong, Skylar Armstrong, Amelia Anderson, Nathan Anderson, Westley Armstrong and Dean Anderson sit together for a game at their home in Tucson, Ariz. At 42 with a blended family of five, Nathan Anderson runs an acupuncture clinic with his wife, Julie, also an acupuncturist. Combined, their monthly student loans bills approach $1,700. Rick Scuteri/AP

A disconcerting 43% of adults have trouble making ends meet, according to a new survey released Tuesday by the Consumer Financial Protection Bureau.

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In the new survey, 43% of respondents said that they experience difficulty paying their monthly bills.

More than one-third said that they experienced financial hardship within the past year, defined as running out of food, falling short on rent, or not being able to pay for a medical expense.

The results accord with other portraits of adults taken from federal surveys. For instance, a regular survey conducted by the Federal Reserve found this year that 44% of families could not easily come up with $400 to pay an unexpected expense.

In the CFPB survey, more than half of respondents said they could come up with $2,000 in a month if necessary to meet an unexpected expense. In terms of liquid savings, though, nearly a quarter have less than $250 on hand.

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The results were based on an Internet survey of more than 6,000 adults selected to be representative of the population.

Read the original article on Washington Examiner. Copyright 2017. Follow Washington Examiner on Twitter.
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