SC's Household Financial Security Ranks No. 48

South Carolina ranks No. 48 in the nation in a study of household financial security released by the Washington-based group, Corporation for Enterprise Development.

The 2013 Assets & Opportunity Scorecard found that 47.2 percent of the households in South Carolina are liquid asset poor, meaning residents have less than three months of savings to use in the event of a health crisis, job loss or other emergency.

The study, which takes a look at Americans’ financial security today and what each state can do to help create future financial success, scores states in five areas: Financial Assets & Income, Businesses & Jobs, Housing & Homeownership, Health Care, and Education.

Each state receive a letter grade in those areas. 

South Carolina received a C for housing, D's for education, health care and financial assets, and a F for businesses and jobs. 

Some positives for the state include:

• Ranked No. 3 behind Alaska and the District of Columbia for bankruptcy rate 
• Ranked No. 15 for the percentage of owner-occupied homes
• Ranked No. 14 for the percentage of childreng ages 3 and 4 enrolled in early childhood programs.
• Ranked No. 12 of the percentage of graduating students from four-year institutions with student loan debt.

The organization says there are many ways South Carolina could improve including the following:

• Strengthen the education system by increasing funding in high-poverty school districts and implement a stronger system for teacher evaluation and retention. 
• Adopt a state Earned Income Tax Credit.
• Regulate payday, car-title and short-term installment loans in an effort to protect people from predatory products and improve ther credit scores.

To see the full report, click here.