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Report: Nearly 63 percent of Alabama households have almost no emergency savings (poll)

A recent report by the nonprofit Corporation for Enterprise Development in Washington, D.C. says 62.7 percent of Alabama households are financially insecure.

The 2014 Assets & Opportunity Scorecard, which ranks Alabama 48th overall in financial stability and in state policies designed to assist families who are struggling, describes those who are financially insecure as "liquid asset poor," meaning they do not have up to three months of basic expenses saved in the event of a job loss, health emergency or other crisis.

While most of Alabama's "liquid asset poor" households live on an income below $23,550 for a family of four, the study shows 27 percent of households earning more than $65,580 a year have less than three months of savings for emergencies.

The analysis also ranked Alabama on financial assets and income, businesses and jobs, housing and homeownership, healthcare and education. 

Click here to read CFED's full report on Alabama.

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