Three in every five Americans are financially unstable. They are living paycheck to paycheck. Doing so means that they are able to pay their monthly bills, but they have no money left over after they have done so.
The growing number of people who find themselves in this situation is concerning. The reason: They will be hard put to cope should they be faced with an unexpected financial emergency, such as a large medical or car repair bill. Without adequate savings, they will be forced to borrow money, such as on a credit card, to pay the expense. Doing so, in turn, will add to their monthly payments and make it harder to come out on their monthly incomes.Read More »