Very few Americans have proper savings, but why is this? Having credit extended in a number of different ways gives people a false sense of security. Being that American’s habit to overspend has not changed, what are the risks that are seemingly unseen in using a credit card, personal loan, line-of-credit, or loan otherwise as an emergency fund? Many may not realize that credit cards in particular have limitations. In the event that you need to use credit for an emergency, you want to ensure that an emergency fund outside of credit is in-place to protect against digging a hole that you cannot climb out of.