No Joke: 97 Million Full-Time Workers Are Now Living Paycheck to Paycheck
This may not come as a shock to many, but Americans are pretty undisciplined when it comes to money. According to data from the St. Louis Federal Reserve, the personal saving rate in June 2017 was a measly 3.8%. In effect, it means working Americans are putting away just $3.80 for every $100 they earn. For the average American earning $30,000 annually, that equates to just $1,140 a year in savings.
Of course, that assumes the average American is saving money, which isn't always the case. A study from GoBankingRates, conducted last year, found that 69% of the Americans it surveyed had less than $1,000 in savings, including about a third of respondents who had a big goose egg -- $0.
Image source: Getty Images.
Source: Fool.com
