Nearly 80 percent of Americans live paycheck to paycheck. A recent survey found that 44 percent of households wouldn’t have the savings to cover a $400 emergency expense.
These statistics illustrate that many people are one hardship away from a financial crisis. An unexpected life challenge like a car breakdown, illness or job loss could be devastating.
April happens to be Financial Literacy Month. While it’s advisable to practice good financial habits year round, it’s helpful to have a reminder. And since spring is the season of renewal and rebirth, it’s an appropriate time to cultivate new habits and encourage personal growth.