(OPINION) In these tough financial times, a new study finds it’s getting harder and harder for people to save any of their money. In fact, seven in 10 Americans say they’re living paycheck to paycheck.
A recent survey of 2,007 adults found that 63 percent don’t see themselves reaching a level of financial security that will allow them to live the lifestyle they want. Lack of financial education and resources may be to blame, particularly for women, who were less likely to say they had access to these tools in comparison to men (65% vs. 84%).
zero educate themselves en route to financial comfort, most turn to social media (45%), their family (44%), or online media such as financial news websites (42%). Conducted on November 22, 2021 by OnePoll on behalf of AmeriLife, the survey also explored the necessities for financial peace of mind among different groups.
While most women noted an absence of credit card debt (59%) as the most important requirement for financial comfort, the majority of men think it’s homeownership (58%). Respondents also differed in what they consider to be essential for financial wellness.
Seventy-nine percent of Americans earning over $150,000 found a savings account to be “very” important, compared to just 54 percent of those with an income of $60,000 to $89,999. On average, respondents feel they’d need $686 of disposable income per month to feel financially comfortable. READ MORE
