It is brutal reality in America- most Americans run out of money before their next paycheck. No matter how much you earn, the struggle never seems to end.
According to the recent report by CareerBuilder, seventy-eight percent of full time workers said they live paycheck to paycheck. Interestingly, 71 percent of all U.S. workers are now in debt- amounting to increase by 3 percent over last year.
It is true that household income has grown over the past decade, but it has failed to keep up with the increased cost-of-living over the same period. Even those making over six figures said they struggle to make ends meet, the report said. Nearly 1 in 10 of those making $100,000 or more said they usually or always live paycheck to paycheck, and 59 percent of those in that salary range said they were in the red.
According to the survey, aside from the insecurity of living without a financial cushion, the phenomenon has another downside: It hampers Americans' ability to save for retirement. About 18 percent of workers cut back on their 401k contributions or personal savings in the last year and more than one-third don't put away money for retirement.
Personal responsibility does play a role in Americans' financial problems, with the survey finding that only a third of workers stick to a budget. Asked what spending items they wouldn't give up, more than half said they'd never cut back on their internet connection or mobile devices.
That might seem like an extravagance to some, yet the truth is many Americans can't work effectively without internet service at home or a smartphone, with employers increasingly expecting workers to check their email while they're out of the office or be available for a call.
Most financial experts recommend stashing at least a six-month cushion in an emergency fund to cover anything from a dental bill to a car repair – and more if you are the sole breadwinner in your family or in business for yourself.
The solutions are available for people to enhance their earnings by formulating new ways to earn money to increase their cash flow while restricting their expenditures. Thanks to the very tools they can't cut back- internet and phones- can generate passive income so they do not have to live paycheck to check.
It is true that there are many scams out there; but there are many legit systems that will help you attain desired cash flow. In most cases, you are able to earn without affecting your current lifestyle and without necessarily impacting your family time.
Surely earning on internet may not be easy, but it will increase your cash flow, reduce your stress and perhaps, will lead you to financial freedom.
If you are totally clueless, check Rookies Path To Millionaire.
If you are over 50, checkout Retire Healthy, Retire Wealthy, Retire Happy.
If you are internet savvy check Become WiFi Millionaire.
You may also want to check BizBuzz