- Oct 21, 2009
- Reaction score
- Political Leaning
Sounds like a rich country but most live from paycheque to paycheque. So whom do you blame.
75 Percent Of Americans Don't Have Enough Savings To Cover Their Bills For Six Months: SurveyFor 47-year-old mom Kim Norton, it’s a “constant battle” to find enough money to even pay her bills, let alone save up.
“I rob Peter to pay Paul; I don’t spend my money frivolously on crap; I just make sure my kids have what they need,” Norton, who works part time as a research coordinator through a temp agency, told The Huffington Post. “I get really wound up thinking about how you just can’t get ahead.”
A single mother of four living in Bangalore, Maine, Norton says she often writes checks for bills without enough money in her bank account to pay them, hoping the check won't clear until her next paycheck arrives. Between rent, child care and other necessities, Norton says her expenses cost more than she earns, leaving her without a cushion to fall back on in case of emergencies.
More than three-fourths of Americans don’t have enough money saved to pay their bills for six months, according to survey results released Monday by Bankrate. Half of the survey respondents said they had less than three months’ worth of expenses saved up, and more than one-quarter -- like Norton -- have no reserves to draw on in case of emergency.