More than four in 10 Americans are living paycheck to paycheck and nearly one in 10 doesn’t earn enough to pay for essentials, according to a study released Tuesday.
The survey, conducted for the Allstate insurance company by FTI Consulting Inc., underscored the conflicted emotions and attitudes about personal finances among ordinary people.
It showed the challenges that people are facing in a soft economy and troubled labor market, but it also demonstrated that many people make unwise financial decisions even when they know better.
The survey found that 59% of Americans say they generally know how to handle money and make the right financial decisions. But 47% of respondents said they’re saving less money than they should be.