For people who don’t have any savings, things you may call an inconvenience, or don’t even think about, could be considered emergencies.
Pretty much everyone needs a cell phone these days. Maybe the person drivers for DoorDash, so they use their phone for work. The phone gets dropped and breaks. They need it fixed or replaced. For people with money, this is a little annoying, they need to go to the store and take care of it when they had other plans. For someone without any savings, this is now an emergency they can’t pay for, and if they don’t take care of it they can’t work. It gets put on a credit card and now they’re paying 20% interest on their phone until they can deliver enough meals to pay it off, on top of all their normal expenses.
For people who don’t have any savings, things you may call an inconvenience, or don’t even think about, could be considered emergencies.
Pretty much everyone needs a cell phone these days. Maybe the person drivers for DoorDash, so they use their phone for work. The phone gets dropped and breaks. They need it fixed or replaced. For people with money, this is a little annoying, they need to go to the store and take care of it when they had other plans. For someone without any savings, this is now an emergency they can’t pay for, and if they don’t take care of it they can’t work. It gets put on a credit card and now they’re paying 20% interest on their phone until they can deliver enough meals to pay it off, on top of all their normal expenses.