Do you owe more money on your credit card than you have in your savings account? For a growing number of Americans, the answer is yes.
A new report from Bankrate.com says the number of people who have more money in their emergency savings has dropped to 51 percent. That’s the lowest level since it started keeping track in 2011.
The report also says 28 percent of Americans have more credit card debt than emergency savings and 17 percent have neither emergency savings nor credit card debt.
Four percent of people surveyed either didn't know or didn't answer.
The people most likely to owe more than they save are between the ages of 30 and 64.