Are you prepared for a financial emergency? - Atlanta News, Weather, Traffic, and Sports | FOX 5

Are you prepared for a financial emergency?

Posted: Updated:
  • More Money NewsMore>>

  • Tech Check: Cyber Monday

    Tech Check: Cyber Monday

    Sunday, August 17 2014 10:07 PM EDT2014-08-18 02:07:29 GMT
    The Monday after Black Friday is traditionally called Cyber Monday in the retail world. That is the busiest online shopping day of the year.
    The Monday after Black Friday is traditionally called Cyber Monday in the retail world. That is the busiest online shopping day of the year.
  • Tech Check: Back-to-school apps

    Tech Check: Back-to-school apps

    Sunday, August 17 2014 10:05 PM EDT2014-08-18 02:05:35 GMT
    A smartphone won't do your student's homework for them, but it might help.  In fact, there are a few apps that both students and parents might want to consider this school year.
    A smartphone won't do your student's homework for them, but it might help.  In fact, there are a few apps that both students and parents might want to consider this school year.
  • Tech Check: Tablet vs. Laptop for back-to-school

    Tech Check: Tablet vs. Laptop for back-to-school

    Sunday, August 17 2014 10:05 PM EDT2014-08-18 02:05:34 GMT
    It is a debate between what type of technology you need to get for your student. The question now, should you get a laptop or a tablet?
    It is a debate between what type of technology you need to get for your student. The question now, should you get a laptop or a tablet?

Are you prepared for financial emergency? FOX Business reporter Lauren Simonetti says a report released by the Center for Enterprise Development shows nearly half of all Americans do not have enough money saved for emergencies.

And if that wasn't enough, some families would not last three months if they suddenly lost their incomes.

In Georgia, less that 75 percent have a savings accounts. The average Georgian carries a debt load of $32,000 in credit and student loans. And Only 27 percent of Georgians have a college degree.

You can read the full report here.

The report shows that nearly 25 percent of families making between $55,000 and $90,000 annually have less than three months of savings.

The report says between the years 2006 and 2010, a net worth decline combined with a climbing cost of living may be the culprit.

Among the items families found difficult to cut back -- housing, healthcare, and education -- take up nearly 75 percent of an average family's spend "discretionary" income.

The top five states where people are living on the edge of ruin: Nevada, Georgia, Mississippi, Florida, and Arkansas.

For complete statistics state by state, click here.

OUR GOOD DAY HOT TOPIC QUESTION: How close to the edge are you? Post your comments on our FOX 5 Atlanta Facebook page, or tweet us @GoodDayAtlanta.

  • Good Day ArchiveMore>>

  • Back to School Jamboree with Hosea Feed The Hungry

    Back to School Jamboree with Hosea Feed The Hungry

    Hosea Feed the Hungry will host their annual Back to School Jamboree on Sunday, July 13, 2014 from 10:00 a.m. until 3:00 p.m. at Turner Field. Children will receive a backpack filled with school supplies.

    Hosea Feed the Hungry will host their annual Back to School Jamboree on Sunday, July 13, 2014 from 10:00 a.m. until 3:00 p.m. at Turner Field. Children will receive a backpack filled with school supplies.

  • Good Day Atlanta

    Pike Nurseries: Labor Day entertaining and planting

    Pike Nurseries: Labor Day entertaining and planting

    Friday, August 29 2014 9:08 AM EDT2014-08-29 13:08:02 GMT
     Did you know that Pike Nurseries has a Pinterest Board that is chock-full of great entertaining ideas for the Holiday Weekend?
     Did you know that Pike Nurseries has a Pinterest Board that is chock-full of great entertaining ideas for the Holiday Weekend?
  • Good Day Atlanta Extra

    Fun recipe: Ultimate Korean BBQ Burger

    Fun recipe: Ultimate Korean BBQ Burger

    Friday, August 29 2014 8:02 AM EDT2014-08-29 12:02:33 GMT
    Check out this fun shareable recipe for an Ultimate Korean BBQ Burger !
    Check out this fun shareable recipe for an Ultimate Korean BBQ Burger !
Powered by WorldNow

1551 Briarcliff Rd., NE
Atlanta, GA 30306

Main Number: (404) 875-5555
News Tips: (404) 898-0100

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices