1 in 5 U.S. households have more debt than savings or other assets
Photographer: AP Graphics Bank
Posted: 05/14/2012
How does your savings account compare to your debt? Well for many Americans it's not good. A new study by the University of Michigan says one in five households have more unsecured debt than money in savings or other assets.
The debt most commonly comes from things like credit cards and students loans.
One expert said the study matches up with numbers showing many lower income households have a negative networth.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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