QoD: Rank order from highest to lowest: percentage of people who....a) have an emergency fund, b) struggle to pay bills, c) live paycheck to paycheck.

Jun 10, 2019
Question of the Day, Budgeting

Answer (from Schwab Modern Wealth Report):

  • Live paycheck to paycheck: 59%
  • Struggle to pay bills: 44%
  • Have an emergency fund: 38%


  • Why do you think so many Americans live paycheck to paycheck? How much of it is an income problem compared to a spending problem? 
  • If someone came to you and said "I want to stop living paycheck to paycheck," what questions would you ask them to try and understand their situation? 
  • Why do you think it's so important to have an emergency fund? 

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About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.