Nearly 40 percent of Coloradans living on financial edge, study finds

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A new report from the Corporation for Enterprise Development or CFED finds that roughly four out of 10 Coloradans don’t have a rainy day fund, meaning they don’t have enough savings to cover three months of living expenses.

About 12.6 percent of the state's households live at or below the poverty line. The study defines this as an annual income of $23,550 or less for a family of four.

The state scores much better in entrepreneurship, education and access to banking services.

But, Colorado scores poorly for housing affordability and bankruptcies, and there are a high percentage of low-income families without health insurance.