10 Tell-Tale Indications You're in Over Your Head Financially

NEW YORK (MainStreet) -- Too many Americans are following a trend of saving woefully too little and spending too much -- thus racking up loads of debt.

Consumers are still saving too little despite watching their lifestyles change during the recession and having only meager savings for emergencies while nearly one in four people would run out of money in 30 days, according to a NeighborWorks America survey, the Washington, D.C.-based trainer of community development and affordable housing professionals.

This lack of savings means millions of adults are faced with minimal options such as obtaining high-cost loans such as payday or title loans if an emergency occurs.

The survey also found that 40% of consumers say that their cash reserves would last only for three months and 28% expect their emergency fund to hold them over for a year.

"These data have to light a fire under all of us who want to see Americans better able to withstand a financial crisis, especially a recession as devastating as the one we're climbing out of now," said Eileen Fitzgerald, NeighborWorks America CEO.

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