Where one lives can determine how much they have to spend to get by. It factors into many everyday expenses, including insurance — for example, auto and home insurers use location as a metric when calculating insurance rates. But location also has a large influence on how much money one makes. The conjunction of all these factors can leave a lot of people short with too much month left at the end of the money.
In fact, according to CareerBuilder, nearly 80% of workers in the U.S. live paycheck to paycheck — even folks on a six-figure salary, of whom some 10% are stuck for a spare buck by the end of the pay period. Furthermore, 12% of Americans actually living in poverty (less than $26,200 for a family of four in most states).
That's not to say there aren't a bunch more barely eking out an existence; almost 18% of Americans don't even make 125% of the poverty threshold for their households (less than $32,750).
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
