2011 Financial Security Poll

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How do Americans stack up when it comes to emergency savings and credit card debt? I’m Kristin Arnold with your Bankrate.com Personal Finance Minute.

A just released poll by Bankrate.com show that 52 percent of Americans have more emergency savings than credit card debt. About 23 percent have more credit card debt than savings. And 19 percent say they have no credit card debt, but they also have no savings.

30 to 49-year-olds have the highest instance of having more credit card debt than savings. This might be because of a singular event, like a job loss, that depleted their savings and caused the debt to file up…or from a pattern of several years of overspending.

The poll shows that consumers are making headway in getting a handle on their debt. Just 21 percent of Americans say they are less comfortable with their debt load now than they were 12 months ago and that ratio continues to improve each month.

To read more about the Financial Security Index Poll, visit Bankrate.com. I’m Kristin Arnold.