Nearly 40% of Americans can't cover a surprise $400 expense

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The more I read.. The more Im convinced alot of these cats talking that "Its your own fault, Lace your bootstraps" talk are either peckerwoods, Trustfund babies or cats whom never experienced any hardship.

Life is very fragile and it could take a turn at any minute. Yes you have reckless spenders but you also have to look at the equations that can eat up your savings
.
Your Car might breakdown
You might get sick, wife might sick or kid sick
Loss of a job
Car Accident
Death or Death of a family member
Natural Disaster

Those circumstances can automatically turn your savings/bank account into a loop hole

Pretty much this. The "bootstraps" pep squad is mostly made up of people who were either born into good circumstances and/or never experienced any type of catastrophic, real world hardships.

I'm a person who was a minor from 9/11 through the Recession. My formative years were essentially spent discovering that life comes at you fast and there's often nothing you can do about it. I learned early that sudden job loss, economic downturns, natural disasters or prolonged illness can put hard working people in the red, or even on the streets within a matter of weeks no matter how much they saved. I learned quickly that plenty of "smart, frugal" people could STILL be at risk of losing everything in an instant due to things beyond their control.

Meanwhile a lot of folks fail to even grasp the concept of experiencing multiple hardships at once.
 
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