Credit Card Survey Shows Forty Percent Of Americans Have No More Than $500 In Accessible Savings

The level of debt and poverty in the country was reflected in a shocking polls conducted by CreditDonkey.com, a website that compares credit card offers. The survey of over a thousand individuals found that forty percent do not have more than $500 in readily accessible savings.

The survey appears to show that many gainfully employed people continue to spend virtually everything that they have coming in either by necessity or poor personal management.

What is particularly frightening is the potential for a massive social collapse if this poll is correct. It would suggest that much of the country is one paycheck away from disaster — an ominous thought if we experience a sudden economic blow. It also shows the danger for some in having readily available credit cards and sales promotions that attract customers with offers involving no money down and automatic qualification.

This result reported from these types of surveys show not only a ticking economic bomb in our society but the ever-widening separation of classes in the United States.

Source: CBS