With the continuing troubles in the job market taking a toll on American bank accounts and a growing wealth gap that threatens the traditional middle class way of life, it’s no surprise that there are some scary stats associated with the average American’s financial status.

According to an infographic from AccountingSchoolGuide.com, 44 percent of Americans are “liquid asset poor,” meaning they don’t have enough to make it through three months of unemployment. In addition, the costs of housing, a college education, and healthcare have all gone up. The risks of being “liquid asset poor” are greatest for the non-white population, which is twice as likely to fall into this category.

From a personal finance standpoint, not having a safety net in case of an emergency is a precarious position to be in. Below, AccountingSchoolGuide.com provides a few other troubling facts about the US economy. If you don’t have a nest egg set aside, don’t panic. Here are a few tips to get started.

–Assess your needs. Tally what you need for housing, transportation, food, cable/phone, debt, and incidentals in a month. Multiply that by three (at least; six is even better) and now you have a goal to shoot for.

–Know it’s OK to start small. Maybe that means $5 per week. As long and you’re working toward the goal, you’re on the right path. Cut back on expenditures like eating out and get serious about saving. It’ll take a while, but you’ll get there.

–Work on paying any debt. The lower your debt, the lower your monthly payments, which puts you and your savings account in a better position.

-Seek out extra income. If you have the time and energy, find some extra work to do to help build that savings account. If you have a skill — a writer, a cook, great at organizing, love pets — do a little something that you can charge people for. It doesn’t have to be a full-on paycheck like your 9-to-5, so don’t stress. Remember point number two… start small.

Source: Accounting School Guide