In the U.S., around what percentage of people use their paychecks to pay off monthly bills and have nothing left afterward then wait for the next check?
2006-12-30 10:44:04 · 4 answers · asked by itguru5354 1 in Business & Finance ➔ Personal Finance
According to the Wall Street Journal 70% of Americans live paycheck to paycheck.
2006-12-30 10:58:42 · answer #1 · answered by KC 4 · 0⤊ 0⤋
I would expect most people live paycheck to paycheck except the uber wealthy. This occurs because of the high state and federal taxes and the escalating energy and gasoline prices. Also, employers pay less for benefits today or don't offer them at all. Therefore, health care costs rise annually for the average person.
Unless you work in a very competitive field, the average paycheck doesn't keep up with inflation. The downsizing of companies like those in the auto industry, outsourcing of jobs to Third World countries, a large labor pool of illegal workers, and a low minimum wage help maintain lower wages for the average workers. Annual wage increases have been paltry or static so the average family needs two wage earners and a tight budget to make ends meet.
2006-12-30 19:00:41 · answer #2 · answered by ne11 5 · 0⤊ 0⤋
It's about 70%. Try to be one of the 30% (like me) who does not live paycheck to paycheck by controlling what you spend.
2006-12-31 01:57:28 · answer #3 · answered by Steve R 6 · 0⤊ 0⤋
No factual source.
About 90%.
2006-12-30 18:53:11 · answer #4 · answered by ed 7 · 0⤊ 0⤋