Many households have negative net worth - KPLC 7 News, Lake Charles, Louisiana

Many households have negative net worth

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The study found one in five households has more unsecured debt - from things like credit cards and student loans - than money in savings and other liquid assets. (Source: CNN) The study found one in five households has more unsecured debt - from things like credit cards and student loans - than money in savings and other liquid assets. (Source: CNN)

(CNN) – How does your savings account compare to your debt?

For many Americans, it's not looking too good.

That's according to a new University of Michigan report out of the Detroit Free Press.

The study found one in five households has more unsecured debt - from things like credit cards and student loans - than money in savings and other liquid assets.

The chief economist for Moody's Analytics told the Detroit Free Press that the report matches up with numbers showing many lower middle income households have a negative net worth.

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