Are you prepared for a financial emergency? - FOX 35 News Orlando

Are you prepared for a financial emergency?

Posted: Updated:
  • More Money News

  • Friday, May 24 2013 5:29 AM EDT2013-05-24 09:29:02 GMT
    With a little planning, you can turn a vacation into a business trip, and have it tax deductible!
    With a little planning, you can turn a vacation into a business trip, and have it tax deductible!
  • Friday, May 24 2013 4:02 AM EDT2013-05-24 08:02:00 GMT
    A North Carolina dairy company is voluntarily recalling some ice cream that doesn't identify possible allergens because the product is packed in the wrong containers.
    A North Carolina dairy company is voluntarily recalling some ice cream that doesn't identify possible allergens because the product is packed in the wrong containers.
  • Thursday, May 23 2013 7:31 AM EDT2013-05-23 11:31:33 GMT
    You've probably been to a yard sale or two in your life, and you might have found some great deals.  But would you know how to get the most out of your own yard sale? 
    You've probably been to a yard sale or two in your life, and you might have found some great deals.  But would you know how to get the most out of your own yard sale?  Good Day's Tacoma Perry talked to an expert who shared some great tips for how to make your yard sale a huge hit.

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 Archive

  • Friday, May 24 2013 10:03 AM EDT2013-05-24 14:03:16 GMT
    A new exhibit in Atlanta is providing an encounter that you "otter" see.  The new Georgia Aquarium exhibit offers guests a view of the popular animals that has never been seen before.
    A new exhibit in Atlanta is providing an encounter that you "otter" see.  The new Georgia Aquarium exhibit offers guests a view of the popular animals that has never been seen before.
  • Friday, May 24 2013 9:43 AM EDT2013-05-24 13:43:19 GMT
    There's never any shortage of food in the FOX 5 newsroom, but on Fridays, it's in the parking lot! 
    There's never any shortage of food in the FOX 5 newsroom, but on Fridays, it's in the parking lot!  This week, Sweet Auburn BBQ joined us for Food Truck Friday, and they got the holiday weekend started right with wings.
  • Friday, May 24 2013 9:11 AM EDT2013-05-24 13:11:19 GMT
    Lookin' to put on a fantastic party this Memorial Day weekend?  Don't forget to jazz up your patio before you light that grill. 
    Lookin' to put on a fantastic party this Memorial Day weekend?  Don't forget to jazz up your patio before you light that grill.  Lucky for you, our friends from Pike Nurseries have a ton of ideas for how you can get your outdoor space ready for the holiday festivities.
Powered by WorldNow

35 Skyline Drive
Lake Mary, FL 32746

Phone: (407) 644-3535
News Tips: (866) 55-FOX35

Didn't find what you were looking for?
All content © Copyright 2000 - 2013 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices