The 10 States with the Most People Living on the Edge of Financial Ruin

financial balanceAmerica's image is that of a place where anyone can grow up to be president, and even a college dropout can found a multibillion-dollar empire.

But one need only look at our finances to see not everyone gets out of the gate on equal footing. Overall, consumer household income has continually dropped over the the last decade, and at the same time, the costs of basic necessities like health insurance, housing, and education have continued to soar.

What has resulted is a deep divide between the rich and poor, and even more people -- both low- and middle-income earners -- who find themselves unable to save for even short-term emergencies.

A sobering new report by the Corporation for Enterprise Development shows nearly half of U.S. households (132.1 million people) wouldn't last three months if they ran into bumps in the road like unemployment, natural disasters, or a medical emergency.

In fact, more than 30 percent don't have a savings account at all, and another 8 percent don't even bank, period.

Using the CFED's detailed analysis of each state's financial security, we homed in on the 10 places where Americans would be least likely to cope in the face of unexpected disasters.

More from Business Insider:

Increase your money and finance knowledge from home

What is Inflation?

Why do prices go up?

View Course »

Advice for Recent College Grads

Prepare yourself for the "real world".

View Course »

Add a Comment

*0 / 3000 Character Maximum


Filter by:

How specia:l Nevada is worst again.. Is there any list that we are not on the bottom of.

February 08 2013 at 7:31 PM Report abuse rate up rate down Reply

9 of the 10 are "right to work for less" states

February 07 2013 at 1:02 AM Report abuse -1 rate up rate down Reply

This article is biased, erroneous in so many ways, and is an outright attack on states that did not support the liberal leftest media king Obama. California, NY, Illinois, and so many other states run by democrats are falling apart. This fictional disgusting list is another way that the left divides the country.

February 06 2013 at 9:55 PM Report abuse +1 rate up rate down Reply

I am not happy to see the poor girl in North Carolina with a child on the porch of what seems to be a run down house. What is wrong with this picture... No money in the bank but has enough for a tattoo !!!

February 06 2013 at 9:01 PM Report abuse +1 rate up rate down Reply

Looks like Harry Reid is #1 in the Senate and #1 in messed up states. Amazing that Nevada has budget issues... just like the US Senate... right Harry????

February 06 2013 at 3:43 PM Report abuse +4 rate up rate down Reply
1 reply to cpo1514's comment
Big John

You really need to get a grip and into reality. Perhaps if you watched something besides Fox No News you might learn that governors run states not the US Senate and out of the ten listed states in this article NINE, thats 90% are run by Republican governors. If you can\'t get a message from that information you are totally brainwashed.

February 06 2013 at 3:55 PM Report abuse -2 rate up rate down Reply
4 replies to Big John's comment

I\'m in Louisiana and my town only has a 4% unemployment rate. It all depends upon where you live, we are thriving..BUT please don\'t move here, we don\'t need you.

February 06 2013 at 12:37 PM Report abuse +4 rate up rate down Reply
1 reply to malcolm's comment

Well said... come visit, but please go home.

May 24 2013 at 10:35 AM Report abuse rate up rate down Reply