Living paycheck to paycheck; what exactly does this mean? Well for forty percent of Americans it is a daily reality that requires them to count on their next payday to make ends meet. We found an infographic by CareerBuilder that further explains how people in this predicament prioritize what they need and how they pull off this high wire act.
Interesting Takeaways: For those surveyed, driving, cable TV, or a cell phone were not deemed the most indispensible thing they had; that honor went to an internet connection which 57% of respondents said they could not give up if in a pinch. While this is certainly understandable, what is more disconcerting for the economy at-large is the fact that over a quarter of American’s cannot manage to put away any money on a monthly basis into savings. That trend appears to be only getting worse, as a fifth of workers had to reduce their overall contributions to any kind of retirement plan over the past year.
Take a look at the illustration below for more detail.