Pennsylvanians Save...A Little. New Yorkers Do Not.

02.06.12 | Sarah Harnisch

Pennsylvanians aren't doing too poorly when it comes to saving. The state ranked 14th nationally for how much cash its residents have in savings accounts. New Yorkers came in 27th place, with a grade of "C". A nonprofit group put out their "Assets and Opportunities" scorecard last week. On average, the typical Pennsylvanian is worth 100-thousand dollars, and has just over 10-thousand dollars in credit card debt. The net worth of an average New Yorker is 48-thousand dollars, and their average credit card debt is 11-thousand-700 dollars. Board member Don Baylor says people in both states-- need to set up a rainy day fund. He says "they are essentially a job loss away from having zero assets." 12 percent of Pennsylvanians don't have insurance, and have subprime credit. Medical debt is one of the top triggers of personal bankruptcy in both states.
  To view the report, go here.