40% of Workers Live Paycheck to Paycheck
May 30th, 2007 by billinman
A recent article in SIReview revealed some startling statistics on workers spending and savings means and habits. Here are some statistics:
* 40% of workers live paycheck to paycheck.
* 55% say they would need to earn more than $500 per paycheck to live comfortably.
* 21% do not set aside any money for savings.
* 37% of workers have 1 income households.
* 16% work more than 1 job to make ends meet.
* 58% of workers have a set budget but 21% spend over their alloted amount.
* 14% of workers save $500 or more per month, 28% save $100 or less, 16% save less than $50.
* 25% of workers do not participate in their company’s 401K, an IRA or other retirement plan.
* 19% of workers that earn $100,000 or more annually often or always live paycheck to paycheck! 18% of these people save $1000 or more a month though, 30% save $250 or less, 12% save $100 or less, and 7% save nothing.
* 47% of women say that they live paycheck to paycheck, 36% of men say the same.
* 26% of women do not set aside savings each month, 17% of men do not.
Workers Live Paycheck to Paycheck. [SI Review, June 2007]
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Career Hacker * www.careerhacker.com * By Bill Inman * www.billinman.com
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