by Leanan » Sun 23 Apr 2006, 07:28:39
$this->bbcode_second_pass_quote('', 'O')r do most families have a degree of financial buffer available to them?
They have a buffer. It's called Visa or MasterCard. Or a home equity line of credit.
I suspect the people who are pawning personal possessions are the ones who either don't qualify for credit cards, or wisely choose not to use them. Probably a lot more are putting it on plastic.
Almost half of Americans say they live paycheck-to-paycheck:
$this->bbcode_second_pass_quote('', 'N')early four in 10 (or more than 77 million Americans) say that they live paycheck to paycheck. Among these 77 million Americans, Hispanic and African-American families are among the most likely to report that they are not able to save (51 and 53 percent, respectively).
And note that the actual numbers may be worse. People aren't always honest when they answer surveys, and some may be too embarrassed to admit they aren't saving.