Community Chat

[lolakimono]

WASHINGTON — CareerBuilder says 75 percent of Americans claim they are living check-to-check just to make ends meet, at least sometimes.

http://wtop.com/money/2016/08/living-paycheck-paycheck-even-six-figure-salary/

Its survey says 38 percent of working Americans occasionally barely make it to the next payday.

Another 15 percent say they usually live paycheck-to-paycheck, and another 23 percent say they always do.

Among minimum wage workers, 66 percent say they can’t make ends meet and 50 percent say they have to work more than one job to pay the bills.

CareerBuilder surveyed more than 3,200 full-time workers and more than 2,100 full-time hiring and human resource managers from May 11 to June 7.

But there are plenty of well-paid professionals that find themselves crawling to the next payday.

The survey says 19 percent of workers at all salary levels were not able to make ends meet every month, including 9 percent of workers making $100,000 or more.

And 23 percent of Americans making between $50,000 and $100,000 live check-to-check.

Keeping up with heavy debt eats away a big chunk of Americans’ wages. The CareerBuilder survey says 68 percent of all workers are in debt, and 55 percent of them think they will always be in debt.

[deepwaterdotter]

Guess I've been lucky to be able to live within my means so far.

[QueenDanceALot]

Rut roh.

[Mz iMac]

I'm glad my parents made us kids budget minded. 

When I got my very first job, my mother had me (her only daughter) get a savings account.  She told me every week put $5 in it & only touch it for emergencies and/or a rainy day (same thing).  Then she said NEVER let the right hand know what the left hand is doing.  That comment made a light bulb go off.  My mother had an account that my father never knew about!

I still have that account (at a different bank now) & still add $5 weekly.  Intead of an emergency/rainy day account,  it is now my "entertainment" account.

[hoosieroriginal]

Everyone keeps saying the economy is good - IT'S NOT.  Macy's just announced closing of many of its stores - more people getting laid off.  Of course if people didn't LIVE on their credit cards, they would be much better off.  I myself do not have one credit card - like my parents used to say, if you don't have the money to pay for it in cash, you don't need it.  I learned well.  I think you have to live within your means.  Always ask yourself, "do you want it, or do you need it?"  I don't worry about those people who make over $100,000 a year and are in trouble - I worry about the elderly who can't pay for their medicine. People need to control their overspending. 

[SeaMaiden]

I do not doubt this at all. Even if you are making $100,000 a year, unless you live frugally, house payments, car payments, insurance, taxes, daily living expenses.....add up. I own a home, and this year we are replacing a old deck and a portion of a fence that is falling down....not $8,000 I want to spend, but it is necessary. I need a new roof, new windows and a paint job....,I try to do a little at a time. It adds up. You must Save save save and scrimp to keep up with everyday living expenses..... I do not live out of my budget....I drive a 16 year old van, my husband has a new car to replace his old 15 year old car that was nickel and diming  us. It is safer on the freeways and actually saves us money! It is hard for the middle class to make it. 

I want to add, I shop at the dollar store for certain things....and I shop Goodwill for many things rather than buy new....I use coupons often. My husband makes a great salary....I choose to be more frugal when I can to save up for those expenses that come with everyday living.  I know people who would never shop where I do......and they are in debt up to their eyeballs. I do not want to be in debt. I still live very comfortable even with cutting corners.

[Mz iMac]

I think it's the Baby Boomer generation that are budget minded.  Those of us whose parents and/or grandparents made it through the "Great Depression."

The X Generation knows nothing about saving.  Also, as far as I am concerned this country is still in a "Depression."  Especially the states that STILL have unemployment rates of 6%+.  Which NEVER count the folks who have been unemployed 5+ years.

[ItsME]

Many, many years ago, I designed compensation programs for a very large corporation, and handled all the administration of the compensation for the senior executives.  One guy was promoted to VP .... and if I remember correctly, he was in a finance position.  With the promotion came an allowance towards to the lease of a car.  He picked an expensive car.  Several months later, he wanted to trade it in on a less expensive model. (I don't remember if he was allowed to change it, but I don't think so.)

It's very difficult (likely impossible) to make ends meet for people in minimum wage jobs. However, many people at upper income levels don't handle their money well.  Hopefully it's a small percentage!

[tansy]

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@hoosieroriginal wrote:

Everyone keeps saying the economy is good - IT'S NOT.  Macy's just announced closing of many of its stores - more people getting laid off.  Of course if people didn't LIVE on their credit cards, they would be much better off.  I myself do not have one credit card - like my parents used to say, if you don't have the money to pay for it in cash, you don't need it.  I learned well.  I think you have to live within your means.  Always ask yourself, "do you want it, or do you need it?"  I don't worry about those people who make over $100,000 a year and are in trouble - I worry about the elderly who can't pay for their medicine. 

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 It's not that people are not shopping but they are choosing different stores or shopping online.  The economy is very good where I am.  Restaurants are full, people are driving new cars, houses are bought at more than the list price.