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And, according to the same survey, 18% of Americans have nothingsaved.
However, the solution to breaking the paycheck-to-paycheck cycle lies within having a financial cushion saved up.
Heres what that entails,why you need one and how to build it.
This way, youre never anxiously waiting for your next paycheck to coverrent or groceries, she told GOBankingRates.
Once you know how much you need, take whatever steps are necessary to save that amount up.
Joy also said that its important to maintain this cushion once youve built it.
; (3) How much do you anticipate your savings account balance to change over the next year?
; (5) How much is the minimum balance you keep in your checking account?
; (6) How much do you currently have in your savings account?
; (7) How much of your paycheck do you put in your checking account?
; (8) How much of your paycheck do you put into your savings account?
; (9) How satisfied are you with your current bank?
; (10) Whats the worst part about your current banking situation?
; (12) Which of the following bank accounts do you currently use/have open?
; (16) In the past year, how often have you written a physical check?
; (17) When was the last time you chose to visit your bank in-person?
; (19) Have you had an overdraft on your checking account in the past year?
; (20) How much cash do you keep at home?
; (21) Do you believe the current banking system needs to change?
GOBankingRates used PureSpectrums survey platform to conduct the poll.
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