A recent study by lawyers.com showed that nearly half of all Americans do not have enough in savings to live for three months if faced with an unexpected job loss or medical emergency.

For those people earning 35k or less, 19% of them said that they had no liquid savings, compared to only 4 percent of those who earned more than the 35k a year.

In addition, those who actually have some savings are increasingly more likely to spend it on daily living expenses, instead of paying down or eliminating their debts.

Of those people with savings, about 27% reported that their last savings withdrawal of $100 or more was to cover normal living expenses, while only 16% used it to pay off debt.

The survey shows that any change in gas prices, for example, or in any other market (an increase in interest rates from their adjustable mortgage, the new minimum credit card payment requirements with most credit card companies) can devastate those consumers financially.

If you find yourself scrambling to make ends meet or just want to learn more about your financial options, log onto www.debtreliefoptions.com.

This entry was posted on Wednesday, March 29th, 2006 at 12:59 pm by Jon Noble and is filed under Bankruptcy, Debt Settlement, Debt Relief, Debt Consolidation, Credit Card Debt, Debt Management, Debt Reduction, Credit Counseling, Debt Elimination, Debt Solution, Debt Help, Debt Advice. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.