Nearly half of households teeter near financial ruin
Nearly 44 percent of American households are one emergency away from financial ruin.
That means they don't have enough savings to cover basic living expenses for three months if something unforeseen happens, such as losing a job or falling sick, according to a study by the Corporation for Enterprise Development. Almost a third of Americans have no savings account at all.
“These families have had to prioritize today's expenses over tomorrow's goals,” said Andrea Levere, the group's president.
Many people living precariously have jobs. About 75 percent are working full time, and more than 15 percent are earning middle-class incomes of more than $55,000 a year.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Experts: If health insurers’ safeguard goes broke, consumers could pay
- Camera prevalence approaches sci-fi realm
- Nike, Under Armour invest in watching exercisers’ steps
- Scented society is killing cheap perfume industry
- Rules could kick door open for nuclear power
- Visa limits vex businesses
- Paper’s prevalence unlikely to diminish
- ‘Promposals’ can be small as burritos, big as Jumbotrons
- Mylan raises bid for fellow drugmaker; Perrigo says ‘no’
- Tech sector drives gains on Wall Street
- MedExpress bought by United Health Group