The hidden danger of slow payment systems for middle-class families

Millions of middle-class families occasionally face the uncomfortable and expensive situation of temporarily running out of money. Many of these families live paycheck to paycheck, and sometimes those paychecks are a few days late or a few dollars short. Indeed, almost half of all Americans report that they “either could not cover an emergency expense costing $400, or would cover it by selling something or borrowing money.” Living on the financial edge creates problems that those with a cushion never experience, including a large and often hidden cost: America’s slow payment system.

Source: The hidden danger of slow payment systems for middle-class families