I was reading the Huffington Post this morning and came across this article on how 46% of Americans die with no assets or assets of less than $10,000(the basic cost of a burial).
It is a sad fact, one I am sure is equally reflected in other parts of the world. Why is this? Some may have spent their way into the hole, keeping up with the Joneses. Others may have been in this situation due to death of a spouse, illness, or unemployment or the collapsed real estate bubble.
Every person needs to save for a rainy day so that your debts are not passed on to others like a bad inheritance.