(InvestigateTV) - The average American carries $63,000 in debt while earning just $45,000 a year, according to a new analysis by ConsumerAffairs - meaning for every dollar earned, roughly $1. 40 is owed.

The report found that gap leaves many families with little financial cushion in the event of an unexpected job loss or medical bill.

ConsumerAffairs also examined whether Americans are keeping up with their payments.