77 percent of workers say they live paycheck-to-paycheck to make ends meet, compared to 61 percent who did the same in 2009.
Working people are having a difficult time getting by on what they make. That means living paycheck-to-paycheck is a hard reality for more than three-quarters of Americans with jobs, according to a new survey from Careerbuilder.com. While it's not surprising that the stagnant economy has caused many professionals to make tough financial choices, the survey reveals a “new reality” that's strikingly grim. Former conveniences that many of us take for granted, such as cable TV, are being eliminated from household budgets to save needed dollars. And many workers fall short when it comes time to pay bills. There is one silver lining in all the bad news. "Our survey found that six-in-ten workers say that the recession has made them more fiscally responsible,” says Rosemary Haefner, vice president of human resources for CareerBuilder. “Maintaining a budget is not only important now, but will better position workers – both personally and professionally – for the long run." Nearly 4,500 full-time employed U.S. workers took part in the survey.
Dennis McCafferty is a freelance writer for Baseline Magazine.
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