Although many family have recovered from the recession, the state of American’s finances is still pretty dismal. According to a survey conducted by Neighbor Works America, 34% of Americans don’t have any emergency savings. Another 25% of Americans have just enough savings to get by for one month in the event of a financial emergency.
The survey goes on to state that the lack of savings affects black families even more. African American households made up 47% of those without savings, as compared to 19% of Caucasian households.
I discussed this topic on Headline News along with my colleague Joyce Brewer. Watch the video below and share your thoughts in the comments section.