[bilbo0s]

>there's a not insignificant number of people who are caught in these situations precisely because they failed to plan and have contingency money set aside...

and

>due to unfortunate events, like cancer, in their personal lives...

I think it's a bit idealistic to think most Americans can save up to take care of a potential bout with cancer. Particularly if they are unfortunate enough to get certain varieties of cancer.

It's like a Manhattan penthouse. We can save for as long and as hard as we like, but for most Americans that purchase is just going to be out of reach. That's just life here in the US when it comes to cancer. The treatments are expensive and out of reach for most of us. Insurance can make it a bit better, but at the mean, we'll still have some pretty serious problems paying for the treatment.

[KyleJ61782]

Perhaps it's not abundantly clear, but I'm trying to draw a distinction there. I get that there are things like cancer that cannot be sufficiently financially prepared for. However, for things like needing a new roof, car tires need replacing, etc., that is precisely what contingency money is for. If you cannot save sufficiently for said expenses, it's time to consider a downgrade on that particular item until you can, or curtail other non-essential expenses for a while.