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.