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Report: One third of Americans at risk of a financial crisis

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Many Americans are waiting for their tax refunds to pay for bills or things needed around the house.

However, a new study indicates that many families are on the verge of a crisis.

Bankrate’s report says 24 percent of Americans have more credit card debt than emergency savings.

Another 13 percent of Americans don’t have credit card debt but they don’t have emergency savings either.

In all, the report indicates that more than a third of citizens are living at risk of a financial crisis.

According to the National Endowment for Financial Education, 63 percent of those surveyed suffered a major unexpected expense last year.

Experts suggest putting half of your tax refund in emergency savings and pay down your debt with the other half.

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