| August 17, 2012

Fewer workers are living paycheck-to-paycheck

Americans appear to be improving their financial standing by employing more money management techniques and being more selective about the costly services they purchase. The collapse of the economy and the recession that followed forced many households to re-evaluate their spending, and the results of a new study show that Americans’ new frugality may be paying off.

According to a recent CareerBuilder survey, the percentage of workers who are living paycheck-to-paycheck has fallen to a pre-recession low, dropping to 40 percent from the 2008 high of 46 percent. Additional results show that 37 percent of workers say they are sometimes reliant on their next payday to make ends meet, while 23 percent say they never live paycheck-to-paycheck. Further, 20 percent of workers said they are unable to meet their obligations at least once per year.

The study also broke the results down by demographic, revealing that those making six figures or more were more confident in their finances in 2012. However, 12 percent of those earning $100,000 or more still said they always or usually live paycheck-to-paycheck.

“Making ends meet remains a challenge for millions of households, but the situation has improved for workers who’ve grown more confident with their job security or who have taken steps to pay down debt and save more,” said Rosemary Haefner, vice president of human resources at CareerBuilder.

“Seventy-two percent of workers report they are more fiscally responsible since the end of the recession, and as the labor market continues to improve, we expect more workers will again be able to spend in ways that will drive the economy forward.”

There are several strategies Americans can use to put more money away and avoid being forced to rely on each pay period to cover their living costs. While it may seem difficult initially, creating a budget that allows them to eliminate unnecessary costs can be an effective way to squeeze more out of their income for savings.

For example, canceling cable and switching to a more affordable cellphone plan can save up to $100 each month. Clipping coupons for groceries and household products, eating out less often and negotiating credit card rates with lenders can also put more money in consumers’ wallets.

Lastly, those who frequently fall short each month or simply want to bolster their savings accounts should consider consulting a credit counselor about their particular financial situation.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
Click here to learn more.

Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

You can save!

With this amount of debt, you'd pay around $xx.xx on a DMP.

FREE Debt Consultation
VE Interactive