33% of Americans Have More Credit Card Debt Than Savings

The Alarming Truth Behind Credit Card Debt, And What It Means for Investors

According to Bankrate data analyzed byStatistasays one in three Americans now have more credit card debt than emergency savings. This is up 10 percentage points from 2011, when the question was first polled. In addition, around 53% of respondents said their savings were currently exceeding their credit card debt. Indeed…. Stay safe and have a Happy Friday!!!

The most common uses for emergency savings among all groups were unplanned emergency expenses, such as car repairs or medical bills, followed by monthly bills, including rent and mortgages, followed by day-to-day expenses such as food.