Thread: Wow: Nearly All Americans Living Paycheck-to-Paycheck

Wow: Nearly All Americans Living Paycheck-to-Paycheck

Katie Pavlich | Jun 24, 2013



The economy isn't getting better and the unemployment numbers we keep seeing are far from accurate. According to CNN Money, 76 percent of Americans are living paycheck-to-paycheck.

Roughly three-quarters of Americans are living paycheck-to-paycheck, with little to no emergency savings, according to a survey released by Bankrate.com Monday.

Fewer than one in four Americans have enough money in their savings account to cover at least six months of expenses, enough to help cushion the blow of a job loss, medical emergency or some other unexpected event, according to the survey of 1,000 adults. Meanwhile, 50% of those surveyed have less than a three-month cushion and 27% had no savings at all.

"It's disappointing," said Greg McBride, Bankrate.com's senior financial analyst. "Nothing helps you sleep better at night than knowing you have money tucked away for unplanned expenses."

Even more disappointing; The savings rates have barely changed over the past three years, even though a larger percentage of consumers report an increase in job security, a higher net worth and an overall better financial situation.

Meanwhile, a new Rasmussen Report shows the majority want the government to cut spending in order to spur economic growth.

http://townhall.com/tipsheet/katiepa...check-n1626180

What Recovery? 7 Of 10 Americans Live Paycheck To Paycheck

June 25, 2013 by Ben Bullard

PHOTOS.COM

Savings rates among American families have remained stagnant over the duration of America’s supposed recovery from the 2008 recession, and most people live paycheck to paycheck, with virtually no cash on hand to see them through an emergency.

That’s the not-so-surprising news arising from Monday’s analysis of a recent survey byBankrate.

The survey found that 71 percent of Americans don’t have enough money in savings to weather a six-month emergency’s worth of living expenses, 50 percent have no more than three months’ worth of savings, and 27 percent have no savings at all.

Senior Financial Analyst Greg McBride said there’s a strange dichotomy separating Americans’ relative optimism concerning their net worth, job security and progress toward retirement from the reality of chronic paycheck-to-paycheck living:

Just one in five Americans feels their overall financial situation is worse now than one year ago… [But]Americans continue to express discomfort with their level of savings.
And it’s no wonder, looking at the lack of progress Americans have made in establishing an adequate savings cushion. Just 24 percent of Americans have enough savings to cover six months’ worth of expenses — comparatively unchanged since 2011 and 2012. At the other end of the spectrum are the 27 percent of Americans that have no emergency savings whatsoever, further highlighting how little progress Americans have made in moving the needle on emergency savings.

Aside from exaggerated proclamations from President Barack Obama that the U.S. is on a strong track toward a full economic “recovery,” part of the reason for sluggish savings can be attributed to some families’ focus, during the post-recession years, of getting out of the red before even thinking about getting into the black. Many are still whittling away at debts, according to financial planner Richard T. Fight, and others are simply still in paycheck-to-paycheck mode after blowing through their savings when the recession claimed their jobs or forced them into an unexpected retirement.

“Three months’ worth of expenses is hard to think about when you’ve been trying to find work for so long,” he told Bankrate. “People who [are] unemployed or underemployed are just trying to get by.”

It’s worth noting, also, that the survey doesn’t clarify whether it considers government-backed income replacement funds like SNAP cards, subsidized student loans and Pell grants, unemployment and TANF (Temporary Assistance for Needy Families) as income in its survey methodology.

http://personalliberty.com/2013/06/2...k-to-paycheck/


Boy oh Boy... Wait till Amnesty is Passed... then you'll truly see how financially screwed you and your family is... and it was DONE by your Poiliticians

This has been part of the plan for years. Make Americans so short sighted focused only on their immediate needs that they don't pay attention to the bigger picture even if it directly relates. When people start focusing on their further future they start paying attention to stuff around them especially what the gov is doing or not doing. But when people are scraping by day to day they are to busy and worn out to bother watching down the road to whats going on and where its leading. This is how they plan to pass Amnesty as well. Hoping the people are to focused on their own local small bit to see what the government is doing and more so make sure they don't have the time to actually oppose it.

Its not easy for working Americans to protest working 9-10 hour days or more and 5-6 days a week. Struggling to buy food, pay bills, healthcare, kids and their needs. and often both parents working to make ends meet. The little time you have you want to try and catch your breath, not go doing a camp out protest against the government all weekend long. Most don't get paid to protest like Dem Union thugs or aren't living off the state like the dem voting welfare cases.

CALL THESE SENATORS AND LET THEM KNOW WE OPPOSE AMNESTY! TELL THEM TO LISTEN TO THEIR CONSTITUENTS NOT THE SPECIAL INTERESTS!

http://www.alipac.us/f8/8-more-votes...9/#post1352047