Maximize Your 401k Contributions in 2024: A Guide with Calculator
New updates to the 2023 and 2024 401k contribution limits. Use a free paycheck calculator to gain insights to your 401k and financial future.
What would you give up to get paid sooner?
What would you give up to get your paycheck sooner? Takeout? Jewelry? Cable?
A new study conducted by Hyperwallet revealed this and more feelings Americans have about payday. For example, 61% of respondents said they’d never eat chocolate again if it meant getting paid sooner.
Countless studies have shown that most Americans live paycheck to paycheck – as many as three out of every four. For those working multiple jobs, it’s because they have to in order to make ends meet – not because they want too.
However, a large portion of Hyperwallet’s survey respondents disclosed they’re willing to delay paying the water bill if it means they can go to happy hour more frequently. An alarming 50% admitted to this. So, many of those working two jobs to “make ends meet” are actually doing it because they can’t give up paying for social activities.
Other interesting tidbits gleaned from this survey include the amount of Americans who would have to completely give up buying nonessentials –new clothes, shoes, etc. - and just how far they’d go to make sure they could pay bills and rent. Fifty-percent of survey takers would have to cut down to just essentials, like gas. Of the 2,000 survey participants, 31% couldn’t pay rent if they missed a paycheck, and that has led to some pawning off family jewelry, or dipping into their retirement savings.
The survey concludes the average American is anxious about payday. However, processing paychecks quicker on the employer’s part and understanding and budgeting better on the employee side should help ease the stress. See how the salary calculator of PaycheckCity can help now!
New updates to the 2023 and 2024 401k contribution limits. Use a free paycheck calculator to gain insights to your 401k and financial future.
Unlock the secrets of your 2023 bonus taxes with our guide, and use our Bonus Pay Percent Calculator for an instant breakdown of your take-home pay.
It’s the 2023 holiday season, and for fortunate employees, that means an end-of-year bonus! Yet many employees are disappointed when their bonus lands in their bank – usually a lower amount than anticipated. Here's a quick guide to help workers understand how bonuses are taxed.