More Americans living paycheck to paycheck

A new study proves what many already know: People are struggling to save.
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Sep 30, 2008
By dvm360.com staff

If you and your veterinary team members are struggling to make ends meet, you’re not alone. A new survey by the American Payroll Association found that nearly 70 percent of Americans said it would be “somewhat difficult” or “very difficult” to meet their current financial obligations if their next paycheck were delayed one week.

This percentage is up from 2007, when 67 percent of respondents reported that they live paycheck to paycheck. The study also reported that the U.S. government calculated a 2.3 percent increase in the cost of living for Americans in 2008 but that just 53 percent of employees received a pay raise to account for the increase.

It's not news that the U.S. economy is worsening. The jury is still out on how much the economic downturn will affect veterinary clinics. Some already feel the pinch, while others report growth as usual. To find information and advice about saving money and weathering the current economic conditions, click on the related links below.