Financial apocalypse in the making: 78% of American workers now living paycheck to paycheck

‘Many people think that earning more money is the solution to their financial woes, but a recent Harris poll that was carried out on behalf of CareerBuilder reports that 78 percent of people with full-time jobs are living paycheck to paycheck. Those who earn six figures aren’t immune; a tenth of workers in this category say they live paycheck to paycheck, and nearly 60 percent of those earning in this range are in debt.
The numbers in the survey are disturbing on their own, but the fact that they’ve risen is even more concerning. Seventy-five percent of workers lived paycheck to paycheck last year, which means the number has risen 3 percent in just one year. Meanwhile, 71 percent of American workers are now in debt, a notable rise over last year’s 68 percent. And while debt can vary significantly, 54 percent of those surveyed said they were in over their heads. More than half (56 percent) of those who were in debt said they believed they would always be in debt, and 26 percent said they had not set aside any amount of savings each month during the last year.’
Read more: Financial apocalypse in the making: 78% of American workers now living paycheck to paycheck