Paycheck to Paycheck CareerBuilder Survey

NEARLY HALF OF WORKERS LIVING PAYCHECK TO
PAYCHECK, FINDS CAREERBUILDER.COM SURVEY

25 percent of workers save nothing each month

Chicago, September 2008 – As the country continues to deal with the current
economic slowdown, workers are stretching their paychecks more than ever. Nearly half
of workers (47 percent) say they always or usually live paycheck to paycheck just to
make ends meet, up from 43 percent last year, according to a nationwide survey of over
7,192 workers by CareerBuilder.com. One-in-five (21 percent) workers with salaries of
$100,000 or more report they too live paycheck to paycheck.

Four-in-ten (42 percent) workers say they would need up to an additional $500 per
paycheck to live comfortably. Fourteen percent says they have to work more than one
job to keep up with monthly expenses.

Comparing gender, more female workers (54 percent) say they always or usually have to
live paycheck to paycheck, compared to males (41 percent). More men (77 percent) than
woman (72 percent) say they save some portion of their paycheck each month, while 70
percent of women claim to have a set budget, compared to 61 percent of men.

“Nearly two-thirds of workers say they have a set budget each pay period, although 19
percent admit to typically going over it,” said Rosemary Haefner, vice president of
human resources for CareerBuilder.com. “Just like in business, going over a budget can
have negative consequences on the bottom line. Workers who are facing challenges in
this area may want to reevaluate where their funds are being allocated, so they can
identify opportunities to reprioritize, recoup savings and lighten their financial burden.”