A research survey done by a leading website lawyers.com revealed some alarming statistics on the debt and the saving patterns of the Americans. The survey revealed almost 50% of the Americas would not be able survive even three months if they were to be out of a job because of job loss or for medical reasons.

The survey also revealed that 19% of the households had no liquid money in their accounts where the income was less than 35k per annum. As opposed to this only 4% of the households whose income was above the 35k per annum, had no liquid money. Another observation of this survey was that those people who had some savings will be mostly using it for their day to day living expenses rather than paying it towards their debt. These consumers were more likely to be severely affected financially by any such changes in the gas prices or the increase in the interest rates or even the modest increases in the minimum payment amounts of the credit card companies.

Another fact revealed by the survey was that about 16% of the people who have some saving amount in their accounts will use that amount to pay off their debts and about 27% of people with savings will withdraw money from the bank accounts and use it for their day to day living expenses.