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34% of Workers Have One Week or Less of Savings

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posted on Aug, 25 2009 @ 09:33 PM
Living on the edge can be scary, and often unavoidable. I've been there myself before. But when over a third of the country is doing it, it becomes more than scary. It becomes terrifying.

Despite the fact that most financial advisors caution workers to save the equivalent of six months’ salary in preparation for troubled economic times, a recent Monster Meter Poll reveals more than one-third of U.S. workers surveyed on admit they have only one week or less of savings to cover living expenses if they were to be laid off from work. is the leading global online career and recruitment resource and flagship brand of Monster Worldwide, Inc. (NYSE: MWW).

If You Were Laid Off Without Severance, How Long Would your Savings Cover Your Living Expenses?

One Week or Less: 34%
2-4 Weeks: 16%
1-2 Months: 16%
3-5 Months: 14 %
6 Months or Longer: 20%

More at source


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