CareerBuilder, online Job search website, surveyed more than 4,400 consumers or workers across the nation and found that nearly eight out of ten workers said they are living paycheck to paycheck.
According to the results, nearly 80% of workers indicated that they are currently living from paycheck to paycheck and struggling to make ends meet. The survey also showed that 22% of Americans don’t have sufficient funds to pay some of their bills in the past year. The 80% number is an extremely large jump from last year’s survey.
Additionally, 1/2 of respondents said that they’ve had to cut back on spending, particularly on leisure activities, shopping, and extras such as cable television in order to make ends meet. Most of the respondents said that they are driving less and taking more public transport to save gas money.
Rosemary Haefner, CareerBuilder vice president of humanresources, said:
“The last 18 months have required some workers to tighten their day-to-day spending and make some adjustments to their financial futures. Our survey found that six-in-ten workers say that the recession has made them more fiscally responsible. Maintaining a budget is not only important now, but will better position workers – both personally and professionally – for the long run.”
Most of the workers are making ends meet by dipping into their long-term savings. There are more than 20% workers say they have reduced their 401(k) contributions or personal savings in the last year to get by.
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