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March 13, 2007
Four-in-Ten Workers Live Paycheck to Paycheck

Forty-one percent of workers say they often or always live paycheck to paycheck, including some who earn $100,000 or more per year, according to a survey published by

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The survey, which included 6,169 workers, found that 19 percent of respondents who earn $100,000 or more said that they often or always live paycheck to paycheck.

Thirty-seven percent of all workers in the survey reported they have one income for their households while 16 percent said they work more than one job just to make ends meet.

Although 58 percent of workers have a set budget each pay period, 21 percent said they typically spend over their allotted amount. When asked what puts them over budget most often, the most popular response was eating at restaurants instead of cooking at home.

In addition to immediate needs, workers are facing challenges in planning for their futures. Although fourteen percent of workers save $500 or more per month, 28 percent save $100 or less per month and 16 percent save less than $50. Twenty-five percent don't participate in a 401K, IRA, or other retirement plan.

Among workers who earn $100,000 or more, 18 percent said they save $1,000 or more per month, 30 percent said they save $250 or less, 12 percent said they save $100 or less, and 7 percent save $0. One-in-ten don't participate in a 401K, IRA, or other retirement plan.

"Scrambling to make ends meet is an exercise all too familiar in many homes," says Rosemary Haefner, vice president of human resources at "One-third of workers report they don't have enough income to live comfortably. And while a bigger paycheck may help, planning ahead and maximizing benefits offered by employers can also play a major role in stretching your dollar."

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