The government shutdown is affecting everyday people in the most devastating ways.
Imagine being a government employee and not knowing when you’ll get paid. We’re talking hundreds of thousands of people (fun fact: the U.S. Department of Defense is the world’s largest employer). How about veterans or people who receive disability checks? The Department of Veterans Affairs said payments would be disrupted if the government shutdown goes beyond two weeks. There are also the small business owners who make their living off tourism tied to national parks or monuments. They’ll also lose money.
The idea that tons of people will suddenly be left unsure about their income has us thinking about our own financial state. Nearly 76 percent of Americans live check-to-check, according to a recent survey conducted by Bankrate.com. Of the 1000 adults surveyed, 50 recent had less than a three-month cushion for unexpected blows like job loss or medical expenses. Twenty seven percent had no savings at all.
Could you survive not having an income for a week or a month? Are you like millions of Americans living check-to-check, or have you been able to put aside money for a rainy day? Share your thoughts, and money-saving strategies, below. [poll id=386386]