Most of our clients are prudent and fortunate enough to have set aside an emergency fund. A recent study by the Federal Reserve indicated that most Americans cannot come up with $400 to pay emergency expenses. Consumer debt is so easy to get that many forget how hard it is to make ends meet with additional monthly payments. Many Americans, including our friends and loved ones, are locked in a cycle of spending and debt. Share this article with your children, grandchildren and friends - They need to remember that this vicious cycle, in which any of us could fall, is entirely avoidable.