CNN recently reported that more than three-quarters of Americans are living paycheck to paycheck (survey done by Bankrate). I’ll admit – we live paycheck to paycheck, but it’s not because we’re broke. We save every month, have a huge cushion and are working towards having a solid down payment on a house.
What’s surprising, though, is that 50 percent of those surveyed have less than three months of living expenses saved up and 27 percent don’t have any savings at all. What were to happen if one of these people were to lose a job? This is one of the huge reasons why I recommend freelancing, no matter what industry you work in (if you want to read more on that, check out my latest post on become a freelance writer!).