Nearly half of Americans have less than $500 in savings

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HOUSTON, TX – Chances are by the middle of the month you don’t have much spare money to give. You’re not alone. Nearly half of Americans have less than $500 saved up.

The website Creditdonkey.com, a credit card comparison company, polled about $1,100 Americans. Would you believe 41% of them said they have less than a half grand of savings on hand?!

“It’s not a surprise,” said Christopher Wilson. “In America today we have more of the rich getting richer and the poor getting poorer.”

Also 45% of Americans polled said they fear they’ll never be able to save much money at all.

“I’m really not surprised,” echoed Brandi Hobratschk. “The economy has hit a lot of people very hard. People who have savings accounts have had to dip into them to meet their everyday needs.”

Yeah, times are hard. Last month the American Payroll Association found that two thirds of Americans live paycheck to paycheck.

The slim savings isn’t only giving you headaches. Its worrying analysts, who fear most Americans who won’t have a backup plan when things get tough.

So where do you fall, over or under $500? You may need to check your bank statements because you could be on the borderline yourself.