According to Corporation for Enterprise Development's 2013 Assets & Opportunity Scorecard, nearly half -- 43.9 percent -- of U.S. households are living on the edge of financial collapse, with almost no savings to support them in the event of a job loss or health crisis.
Here are some of the sobering findings from the CFED Scorecard:
- Practically one-third (30.8 percent) of households don't have any savings account at all.
- More than half (56.4 percent) of consumers have subprime credit rates, meaning they don't qualify for short-term credit at prime rates and are more likely to turn to a payday loan or auto-title loan.
- Two out of every three college students graduate with student loan debt. The average debt load is $26,600.