I know that many times, we feel like we need to wear the mask. The one that says everything is perfect, nothing ever goes wrong, and I have never struggled with anything.
It seems that when it comes to finances, most of us want to wear a mask. The mask that says "We are doing fine." One that says, "I am doing better than you are." Maybe one that says, "I have a lot of money. More than you. No, WAY more than you."
The mask that says, "I am doing well financially." even though one is financed up to their eyeballs.
Ultimately there is the truth. The truth is that over 70% of Americans are living paycheck-to-paycheck. If they miss ONE paycheck, they will fall behind on one or more bills. The truth is that somewhere around 20% of Americans are not only living paycheck-to-paycheck, but they are already behind on one or more bills.
The truth trumps the mask every single time, and I love it when people get real.
When they say, "I HAVE HAD ENOUGH!", and embark on the quest to take control of their finances. When they realize that they CAN win with their money, and they seek knowledge on how to do so. I love it when they get so real that they invite their friends, family, co-workers, and neighbors over to the house for dinner and then show them how to put together a budget that works.
I LOVE IT when that happens!
There was a day that I felt like I needed to show everyone that I was doing really well financially, but the reality was that I had an average bank balance of $4.13. I dropped the pose (PRIDE), said "I STINK at this!", and I went and got help.
Dave Ramsey absolutely rocked my world with his 7 Baby Steps. You can click
Are you being real about your financial situation?
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May 22nd, 2008 at 06:40 pm 1211481642
I do think the majority of people can't go more than a month without pay before having issues but that isn't quite the same as paycheck to paycheck.
May 22nd, 2008 at 06:52 pm 1211482364
May 22nd, 2008 at 07:19 pm 1211483991
I would refer you to http://transcripts.cnn.com/TRANSCRIPTS/0612/23/cnr.05.html
The numbers certainly will change and vary widely based on where on lives, but this fact is true: Nearly every survey conducted over the past ten years has shown that between 60% and 70% of Americans are one paycheck away from being late on one more bills.
Surveys that I have conducted have shown that 24% are actually already behind on one or more bills.