Getty Images It’s a common human trait to want to put your head in the sand and avoid facing the reality of your situation. But when it comes to financial matters, living beyond your means, incurring high levels of debt, and developing a bad credit profile can ruin more than just your bank account.
According to Corporation for Enterprise Development’s 2013 Assets & Opportunity Scorecard, nearly half — 43.9 percent — of U.S. households are living on the edge of financial collapse, with almost no savings to support them in the event of a job loss or health crisis.
Here are some of the sobering findings from the CFED Scorecard: How do you know if you’re heading for a financial meltdown? Here are 10 warning signs.