One in every five Americans is not making ends meet, according to a new study.
Country Financial, Bloomington, Ill., published this finding in a summary of results from a national telephone survey of 3,000 Americans. The results were compiled by the research firm Rasmussen Reports, LLC, Asbury Park, N.J.
The survey reveals that while fewer than 1 in 10 Americans (9%) say their lifestyle is more than they can afford, more than one in five (21%) say their monthly spending exceeds their income at least half of the year.
The survey attributes this “perception gap” to the fact that only 51% of Americans use a household budget system. Those who budget are more likely to set monthly savings goals (61%) than those who don’t (30%).
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But the survey adds that most budgeters (57%) and non-budgeters (54%) admit they meet their savings goals only half the time or less.
Among the survey’s additional findings: