Forty-two percent of workers say they usually or always live paycheck to paycheck, according to a recent survey. While the number appears high, it is slightly lower than results from last year (43 percent.) In addition, the percentage of workers who reported they have missed a bill payment over the past year has decreased to 20 percent, lower than the response to the 2010 survey (22 percent.)

Other highlights from the survey, conducted by CareerBuilder, include:

Gender differences: Female workers appear to struggle more with their personal finances than their male counterparts. A higher percent of female workers (46 percent) live paycheck to paycheck male workers (38 percent.) Nearly one quarter (24 percent) of female workers say they have missed a bill payment over the last 12 months, higher than male workers at 17 percent.

Six figure paychecks: Fourteen percent of workers making six figures say they live paycheck to paycheck, down from 17 percent in 2010. Furthermore, 6 percent reported they can’t make ends meet every month, an improvement from 8 percent last year.

Long-term savings: More than one-in-five (21 percent) workers say they have reduced their 401(k) contributions and/or personal savings in the last year to get by. Another 34 percent state that they do not participate in any programs such as 401(k), IRAs, or retirement plans.

Rosemary Haefner, Vice President of Human Resources at CareerBuilder notes that HR and compensation professionals can be an important, and perhaps underused, resource for employees.

“Talk to your HR department about how you can make the most of the benefits at your organization. Find out if your company offers discounts to stores or for other services, and ask about how you can make sure you’ve selected the right benefits plans for your budget,” says Haefner.

Source:

Careerbuilder.com