Most Families Can't Afford to Miss One Paycheck

Half of American families are living on the edge.

According to a new study, from NORC at the University of Chicago, 51% of working adults are one paycheck away from financial hardship.

The study found that families would have to access their savings to cover basic necessities.

Other studies have found similar results.

A study from home repair service HomeServe USA found that roughly 50% of consumers either have nothing set aside to cover an emergency or less than $500 put away.

And research from the Federal Reserve has indicated that roughly 4 in 10 Americans couldn’t afford a $400 emergency.

Image courtesy Getty Images

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