Almost Half of Americans Have More Credit Card Debt Than Savings

What's Hot


The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

How a Mexican Tariff Will Boost the Cost of 6 Common PurchasesFamily

This Free Software Brings Old Laptops Back to LifeMore

How to Protect Yourself From the ‘Can You Hear Me?’ Phone ScamFamily

Report: Walmart to Begin Selling CarsCars

Is Your TV Tracking You? Here’s How to Tell — and Prevent ItAround The House

Trump Scraps FHA Rate Cut — What Does It Mean for You?Borrow

Where to Sell Your Stuff for Top DollarAround The House

11 Staging Tips to Help You Get Top Dollar When Selling Your HomeAround The House

8 Tuition-Free U.S. CollegesCollege

10 Overlooked Expenses That Ruin Your BudgetFamily

4 Car Insurers That Might Raise Rates Even When the Accident Wasn’t Your FaultCars

How to Invest If Trump Kills the ‘Fiduciary Rule’Grow

20 Simple Hacks to Make Your Stuff Last LongerAround The House

12 Surprising Ways to Wreck Your Credit ScoreBorrow

A quarter also said they had more credit card debt than money in the bank.

A recent Bankrate survey found that it doesn’t matter how much you make – most of us are just terrible at saving.

55 percent of the 1,003 people they surveyed said an emergency fund was more important than paying off a credit card balance. That doesn’t tell us how many have those, or in what amount, but it’s a slim majority. 24 percent said they had more debt than savings, and 16 percent said they have no savings.

Those who make more are slightly better at saving. Two-thirds of those making $75,000 a year or more have more savings than credit debt, but just two-fifths of those making under $30,000 a year do. The latter group is much less likely to have the credit score to get a card, or to have much to put into savings.

Men are slightly better savers or better liars; 60 percent said they had more savings than credit card debt, while 49 percent of women did.

But even wealth and a high score don’t mean you’re good at managing money. The story mentions a guy with $400,000 in credit debt, who was complaining because he couldn’t fuel up his jet with a credit card until he paid down his balance. Sounds like a nice problem to have.

Ready to tackle debt and learn to save? Hit the links below and we’ll teach you.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: 14 Ways to Maximize Your Social Security Checks

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,840 more deals!