Millions of Americans are just one paycheck away disaster

Millions of Americans are just one paycheck away disaster

Every few months we receive the results of another study or survey that remind us of the worrisome financial state for a number of Americans. While we take no pleasure in these Middle-class Squeeze confirmation points, they are fodder for companies that either help consumers get a grip on escalating debt levels that sap disposable income or those like Thematic Leader Costco Wholesale help consumers stretch their remaining disposable spending dollars.

A new study from NORC at the University of Chicago, an independent social research institution, found that 51% of working adults in the United States would need to access savings to cover necessities if they missed more than one paycheck.

“The 2019 Prosperity Now Scorecard shows that too many families are either struggling to make ends meet, or are just one emergency away from a financial disaster,” it said.

A separate survey from home repair service HomeServe USA found that almost 1 in 5 Americans (19%) reported having no money set aside for dealing with the costs of an unexpected emergency expense. That report said 31% of Americas don’t have at least $500 set aside to cover an unexpected expense.

Source: Millions of Americans are just one paycheck away from ‘financial disaster’ – MarketWatch

About the Author

Chris Versace, Chief Investment Officer
I'm the Chief Investment Officer of Tematica Research and editor of Tematica Investing newsletter. All of that capitalizes on my near 20 years in the investment industry, nearly all of it breaking down industries and recommending stocks. In that time, I've been ranked an All Star Analyst by Zacks Investment Research and my efforts in analyzing industries, companies and equities have been recognized by both Institutional Investor and Thomson Reuters’ StarMine Monitor. In my travels, I've covered cyclicals, tech and more, which gives me a different vantage point, one that uses not only an ecosystem or food chain perspective, but one that also examines demographics, economics, psychographics and more when formulating my investment views. The question I most often get is "Are you related to…."

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