In today’s world, the financial situation, or the lack of finances, is causing a large percentage of the population a lot of financial stress; people are preoccupied with coping with the economic situation to make ends meet.
According to market watch and published by MSN money, a study by the NORC at the University of Chicago, an independent social research institution, found that 51% of working adults in the United States would need to access savings to cover necessities if they missed more than one paycheck.
They found that specific communities were more prone to economic hardship, and missing a paycheck would be devastating to them, as they would be unable to cover basic living expenses after missing more than one paycheck; this situation is found chiefly in households where the annual income was $30.000 annually or less.
in a study of the economic situation among people of different backgrounds, it was surprising to me to see the vast amount of people who are living paycheck to paycheck, and this situation is not only in one particular group but can be found in all economic groups
These people are from every sector: professors, real estate agents, farmers, business executives, computer programmers, store clerks, etc.
It is incredible how much money it takes to survive from month to month. After earning three degrees, a college professor said he got a job at a CA college, but with four children and the rising cost of healthcare, he cannot save anything for a rainy day.