Richard Drew, Associated Press
About half of the country has more credit card debt than savings, according to CBS News.
The survey — done by bankrate.com — said 51 percent of Americans can pay off their credit card debt with their savings, which is the lowest number since 2011, CBS News reported.
“This is a reflection of the stagnant incomes, long-term unemployment and high household expenses that are hampering the financial progress of many Americans,” said Greg McBride, the website’s chief financial analyst.
- 30 best cities for starting a business
- Top 10 cities for smallest income inequality gap
- Why the rise of smart machines could...
- Which cities have the best income equality?...
- The Mortgage Professor: Unmarried couples...
- Money mistakes to avoid in your 20s
- How will students pay for soaring debt? Tax...
- States explore free community college
- How will students pay for soaring debt?... 76
- Dave Ramsey says: Don't waste your... 19
- Utah unemployment rate hits five-year low 18
- Why the rise of smart machines could... 13
- States explore free community college 11
- Borrowers using student loans for cash,... 5
- Which cities have the best income... 5
- Money mistakes to avoid in your 20s 5