7 years ago
2
Vast number of Americans live paycheck to paycheck
With unemployment in the U.S. at its lowest level in 16 years, experts are prone to talk about the economy as if it has fully recovered from the housing crash. But other measures of how Americans are doing reveal a darker picture. Almost 8 out of 10 American workers say they live paycheck to paycheck to make ends meet, according to a new survey from CareerBuilder. That can force people to take on debt or otherwise struggle when an unexpected bill arises.
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At least a portion of those people living paycheck to paycheck have no money management skills. If you doubled what they make, they would still live paycheck to paycheck.
My mother taught me how to budget like nobodies business, if you bought a pack of gum you wrote it into the ledger, what she never taught us was that at some point you are going to have an expense that is going to destroy your world, the car broke down that's 1000 dollars, the fridge busted that's 700, etc... one of those can wipe out two to three months of savings.