57% live paycheque to paycheque: Survey

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Jacob Richter
57% live paycheque to paycheque: Survey

57% live paycheque to paycheque: Survey

 

24 Hours News Services - Counting down the hours until you get your paycheque?  You're not alone.

Nearly six-in-10 (57%) workers report they feel they live paycheque to paycheque just to make ends meet, up from 55% in 2008, according to a nationwide survey by Career Builder Canada.

Nearly one-in-five workers (19%) who feel they live paycheque to paycheque said they have started feeling this way in 2009.  Some workers are making ends meet by dipping into their long-term savings.  Close to one-in-five (18%) workers say they have reduced their retirement contributions or personal savings in the last six months to get by.

While some workers are tapping into their long-term accounts, others are having a hard time saving anything at all.  Fifty-six per cent say they do not participate in any retirement programs.

In addition, 35% report that they don't put any money aside into their savings each month, on par with 2008, while 25% set aside $100 or less per month for savings and 12% save less than 50.

Doug

There's two groups here - the won't save and the can't save. Despite the recession, I'd think the first group is larger.