28% of Americans are living paycheck to paycheck

ACNielsen says 28% of Americans have no spare cash and are living paycheck to paycheck.


While more Americans appear to be investing than last fall, the U.S. still ranks near the bottom of all countries surveyed in terms of setting money aside for the future. When totaling the percentage of respondents who said they use spare cash for savings, stock or mutual funds, and/or a retirement fund, the U.S. ranked 33rd out of the 38 countries surveyed.

If you are living paycheck to paycheck, and unable to set money aside, financial planners suggest that you take certain steps:
1. Track your spending on a weekly basis. Try to account for every dollar spent, whether it's going towards paying big bills or buying a $4 latte in the morning.
Create a budget. Figure the amount you spend on various bills and necessities, and put the rest in savings.
2. Pay your bills on time. Set a date every month when you take care of all of your bills in full. Don't pay your bills with credit cards, which just build new debt, on which you may have to pay high interest.
3. Stick to a meal plan. Wasting money by excessively eating out can drain your financial resources. Homemade meals cost much less, so try to shoot for only one meal out per paycheck.
Hold a sale. Everyone has excess possessions he or she doesn't really need, so consider having a garage sale or putting unwanted items up for online auction.