Evidence
Major unexpected expenses in the prior 12 months
Who should skip this. Readers who need to handle a bill this week. Use Start here instead.
Layer: Evidence · Last reviewed: September 29, 2026 · Card ID: EV-SHED-SHOCKS-2025
Plain title
Share of U.S. adults who had at least one major unexpected expense in the 12 months before the survey — and the most common type
The numbers
59 percent had at least one type of major unexpected expense.
30 percent had a major vehicle repair or replacement. That is the single most common type, and the number on the Home gauge.
These are not two measurements of the same event. 30 percent sits inside 59 percent. People could mark more than one type, so the type rows add up to more than 59.
Date and source
- Survey: Federal Reserve Board, Survey of Household Economics and Decisionmaking (SHED)
- Field period: October 2025
- Report: *Economic Well-Being of U.S. Households in 2025*, Economic Hardships, Table 23
- Executive summary:
- PDF:
The Fed notes these major-expense questions were new in 2025. There is no earlier SHED year to splice onto this table.
Exact definition
Among all adults, the survey asked about major unexpected expenses in the prior 12 months.
Table 23 (multiple answers allowed):
| Type | Percent of adults |
|---|---|
| A major vehicle repair or replacement | 30 |
| A major house or appliance repair | 22 |
| Unexpected major medical expenses | 21 |
| A mobile phone or computer repair or replacement | 18 |
| Legal expenses, taxes, or fines | 10 |
| Other unexpected expenses | 6 |
| Increases in childcare or dependent care expenses | 3 |
| Any major unexpected expense | 59 |
Among people who knew the amount, the median for vehicle repairs, house or appliance repairs, and major medical bills was in the $1,000 to $1,999 band. Legal expenses, taxes, or fines ran higher (median $2,000 to $4,999). Phone or computer repair was typically $500 to $999.
A $400 buffer is below those medians. That is why the $400 Foundation calls $400 a floor test, not a full emergency fund.
Who is in the number, who is not
- In the 59 percent: U.S. adults who marked at least one listed type.
- In the 30 percent: adults who marked a major vehicle repair or replacement, whether or not they also marked something else.
- Not: only people without savings. Homeowners and people with a car were *more* likely to report a shock, because cars and houses are where many shocks live.
- Not: the $400 hypothetical. That question is “how would you pay a $400 expense,” not “did a repair happen.”
- Not: Pulse unmanageable-debt households.
What changed since the last release
No prior-year comparison. The questions are new.
What this does not prove
- It does not prove that 30 percent of adults had a $400 problem. The typical known vehicle or medical shock in this table is larger than $400.
- It does not prove that 59 percent missed a bill. A shock and a missed bill are different questions in the same chapter.
- It does not tell you what *your* next repair will cost.
What to read next
- Foundation: The $400 test and the three cash buffers
- Foundation: A 7-day cash map
- Start here: I got a bill I cannot pay / I may not make this month’s bills
- Evidence: Would cover a $400 expense with cash or its equivalent
- Evidence: Card balances among adults finding it difficult to get by
FourHundred is an education tool. It is not personalized financial, tax, or legal advice. Evidence cards change when the source changes, not when headlines want a new take.