This is a question many people ask themselves on a regular basis. Or, rather, a question that others ask many people on a regular basis.

Given the fact that fully 47% of Americans don’t have enough cash to cover a $400 emergency, this is no big surprise.

We’ve become a nation that has gotten comfortable with living off of credit. With not having an emergency fund. With not building wealth or contributing enough to retirement funds.

“It’ll all work out eventually,” they tell themselves. I know this because we told ourselves that for years. Until we got to the point that it couldn’t “work itself” out anymore and we had to start working it out and taking responsibility for our financial situation.

So then, when the screws get tightened, when they run out of available credit, when the payment amounts start to get too uncomfortable, they come to you for help.

“Will you cosign a loan for me?” they ask.

And you start to get that icky feeling in your stomach. Read more