Almost Half of Wokers Admit to Living Paycheck to Paycheck
Workers are stretching their paychecks more than ever, according to a recent survey by CareerBuilder.com. Among those polled, 47 percent say they always or usually live paycheck to paycheck to paycheck just to make ends meet, up from 43 percent last year.
The problem is not limited to lower-paid employees. Twenty-one percent workers with salaries of $100,000 or more report they too live paycheck to paycheck.
Among the other findings:
A quarter of workers say they don't put any money aside for savings each month.
Of those who do save, thirty-four percent of workers set aside less than $100 a month for savings, and 18 percent save $50 or less.
A third of workers say they do not participate in any programs such as 401k, IRAs or retirement plans. Ten percent workers making more than $100,000 report putting no money into savings each month or participating in a 401k, IRA or comparable retirement plans.
Forty-two percent of workers say they would need up to an additional $500 per paycheck to live comfortably. Fourteen percent says they have to work more than one job to keep up with monthly expenses.
Comparing gender, more female workers (54 percent) say they always or usually have to live paycheck to paycheck, compared to males (41 percent).
More men (77 percent) than woman (72 percent) say they save some portion of their paychecks each month, while 70 percent of women claim to have a set budget, compared to 61 percent of men.
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