Money

Study: 76 Percent of Americans Living Paycheck-to-Paycheck

| by Michael Allen
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A staggering 76 percent of of Americans are living paycheck-to-paycheck.

According to a recent study by Bankrate.com, less than 25 percent of Americans have enough money in their savings account to cover six months of expenses.

The survey of 1,000 adults also found that 50 percent have less than three months in savings  and 27% of Americans have no savings, notes CNN.

If those numbers sound grim, the online lender CashNetUSA did a poll last week and found that 22 percent of Americans had less than $100 in savings, while 46 percent had less than $800.

"There really hasn't been much relief. The economy is stagnant, $100 is not enough to help you out in an emergency," said Megan Staton, director of marketing for CashNetUSA.

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 "It's disappointing. Nothing helps you sleep better at night than knowing you have money tucked away for unplanned expenses," added Greg McBride, Bankrate.com's senior financial analyst.

Source: CNN