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Report: Many Hoosiers on 'Edge of Financial Disaster'

A new report says more than two in five Indiana residents are “living on the edge of financial disaster”.with nearly no savings to fall back on in the event of an emergency, like job loss or health crisis. An assessment by the Corporation for Enterprise Development says 42-percent of Hoosiers are “liquid asset poor” – not having enough money to cover basic expenses at the federal poverty level for just three-months if they suffered a loss of stable income. The same report says almost half of US households are living on “the edge of financial collapse”.   Indiana ranked 37th in the country in the ability of residents to achieve financial security, the state scored much better in home affordability and the amount of average credit card debt.
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