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Inside Bulloch Business with Jan Moore - Looking for brave leadership in Georgia
Jan Moore
Jan Moore
There were really some disturbing statistics announced at the end of last week by the Corporation For Enterprise Development which is a national nonprofit based in Washington, D.C. As reported in the Atlanta Journal-Constitution, the study by the CFED ranked Georgia dead last in terms of the financial security of its residents, based on factors such as their high debt load, lack of savings and assets, and the prevalence of personal bankruptcies. Georgia's statistics included the following rankings in comparison with other states, where 50th would be the worst ranking: unbanked households - no savings or checking account (49), consumers with subprime credit (48), borrowers 90+ days overdue (48), bankruptcy rate (50), and income poverty rate (42). According to the AJC, Georgia households' average net worth of $48,425 fell far below the national average of $70,600 -- yet one more indicator that even amid signs of an economic rebound, many Georgians' finances are precarious.
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