Study: Nearly Two-In-Five American Households Live Paycheck To Paycheck

[cal04]

The number of American households living paycheck to paycheck has risen to 38 percent, according to a study by the Consumer Federation of America and the Consumer Planner Board of Standards. Fifteen years ago, the number was 31 percent. The report also found that more than half of Americans are behind on their retirement savings, up from 38 percent in 1997. Both problems have been exacerbated by stagnant wages and an increase in low-wage jobs; as ThinkProgress noted this week, one in four private sector workers make less than $10 an hour.

http://thinkprogress.org/economy/2012/07/26/589311/study-paycheck-households/


Many Families Struggle to Make Ends Meet, But Those With a Financial Plan Feel and Do Better
http://www.consumerfed.org/news/560

Living Paycheck To Paycheck Is Reality For Two In Five Households: Report
http://www.huffingtonpost.com/2012/07/25/living-paycheck-to-paycheck-2012_n_1702347.html

STUDY: One In Four Private Sector Workers Earn Less Than $10 An Hour
http://thinkprogress.org/economy/2012/07/24/573671/one-in-four-private-sector-workers-earn-less-than-10-an-hour/

[arely staircase]

1. and some of us not even that

more like paycheck to a week before paycheck

[Worried senior]

2. We live on a small, welcomed teamster pension

and our SS.

We make it but we've set our sights lower. Would love a part time job but where we live there isn't much for someone my age. Can't do the bull-work anymore and jobs that are available usually go to someones family member.

[RebelOne]

3. I am living on social security.

I had been working and collecting social security and a salary. I was doing quite well, But I was laid off in 2010 at the age of 71. I would love to have a part-time job, but as you stated, there is not much, if anything, for some one my age. So I am having to adjust to living on my social security. I have some money that was in my 401K, but had lost a lot of it during the Wall Street fiasco. So I am trying not to touch that money as it is going to have to last me a long time. Thankfully, I do not have any bills other than the normal utilities, etc.

[Marrah_G]

4. I do

Student loan company is now saying they are going to garnish my wages. I'll probably end up in a box under a bridge before long. Ugh, not sure i will ever get back on my feet.

[donco]

5. Only "Two-In-Five "?

[Posteritatis]

6. Quite possible to live P2P and be a couple small problems from disaster

I've been doing okay the last couple years and have a decent buffer for any time spent unemployed, but if I was in the States and got hit by a truck tomorrow - or, y'know, shot - I'd go from "doing okay" to "financially ruined" in a couple of days tops.