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Poll: Which Is Greater – Your Emergency Fund or Your Credit Card Debt?
Posted By Ron On February 23, 2011 @ 1:15 AM In Debt,Personal Finance,Saving Money | Comments Disabled
Bankrate.com  recently published a Financial Security Index (a survey by Princeton Data Source) that polled Americans about their emergency savings and credit card debt. The results were interesting so say the least. First the good news: a majority of Americans have more money in their emergency fund  than they do in credit card debt – 52% to be exact. Now the bad news: the other 48% are either clueless or have a balance on their credit card (s) that is larger than their emergency savings.
The numbers broke out nationally like this (I’m unsure of the sample size):
An amazing number of people (19%) don’t have a credit card  OR an emergency fund  which means they’re just one minor disaster away from either going into debt with a payday lender, borrowing money from friends /relatives or heading toward bankruptcy.
Some of the other statistics:
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