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How much money do you have in your savings account, Are you able to help support an emergency cost with it or would you continue to use credit cards or safe cash advance online loans in order to make your budget work, Bankrate.com completed a survey that showed only 51% of all Americans have enough money in their savings account to be able to clear credit card debt. The latest result is the lowest percentage since they began tracking this information in 2011. With the increase in household debt, the results are not surprising.

According to this particular survey, only 30% admitted to having more credit card debt than savings. About 17% of the remaining folks surveyed said that they had either credit card debt or money saved in the bank. Savings accounts seem to be losing significance.

According to Bankrate.com's chief financial analyst, Greg McBride, the results reflect multiple problems within household finances: static incomes, unemployment or under-employment troubles and inflated household expenses.

Where do you fit into these findings, If you have a job, you are already ahead of the game. What about your income, Does it support your household needs or has your salary remained stagnant waiting for some sort of increase, The cost of living rate continues to go up each year and if wages remain static, life will eventually outgrow your paycheck.

We can't place specific disclaimers on how much overspending has to do with the debt troubles, but research found that Americans took on a hefty amount of debt in December. Consumer spending significantly increased in the fourth quarter. This information (based on a study done by the Corporation for Enterprise Development) defines many household situations. There may be employment but when debt filters in, it lowers the status of individual financial situations. Americans are not comfortable with their financial status. More than 40% of households do not have enough savings to cover three months of expenses never mind enough to pay off all credit card debt.

With credit card debt being so high, many of these households have already or on the verge of becoming credit challenged. This means that their credit utilization rate is so high that no new creditors will approve new lines of credit. The maxed balances limit additional spending and creditors will often lower credit limits as payments are made. People's revolving accounts will close up around them.

Bottom line to this report, get busy building a savings account. Id you are unemployed, don't give up. Under-employment may need a second job or a job change in order to support your household needs. Don't take your eyes off of cutting back. you may not be able to support a home in an exclusive neighborhood or within a certain mileage of work or local schools. Take the best direction in order to support your savings account. It would also be imperative to lower your credit card debt before alternative money from cash advances direct lenders filters into your budget. Self-reliance is what the research is studying. Will you be able to maintain your lifestyle based on what you make right now, Survey says… it will all depends on how big you built your savings account.

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