Study shows states where you most likely to live paycheck-to-pay - WFSB 3 Connecticut

Study shows states where you most likely to live paycheck-to-paycheck

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The study released by GOBankingRates.com shows the states where "you're most and least likely to live paycheck-to-paycheck." (GOBankingRates.com) The study released by GOBankingRates.com shows the states where "you're most and least likely to live paycheck-to-paycheck." (GOBankingRates.com)
HARTFORD, CT (WFSB) -

Many people throughout the United States are living paycheck-to-paycheck and a new survey released shows Connecticut was ranked one of 10 states where most people are living that way.

GOBankingRates.com recently released a survey shows that 69 percent of respondents have less than $1,000 in their savings account while there were 34 percent of people do not have any money in their savings. 

The study released by GOBankingRates.com shows the states where "you're most and least likely to live paycheck-to-paycheck." The study used the following items in their study: 

  • Median household income
  • Cost of housing, food, transportation, utilities and healthcare per paycheck
  • Leftover income after cost of living expenses

GOBankingRates.com said on its website that the study shows "geography can have a huge impact on your money, especially your paycheck."

According to the study, Hawaii is the state where you are most likely to live paycheck-to-paycheck. It was followed by California, New York and Massachusetts. Connecticut was the seventh state where you are most likely to live paycheck-to-paycheck.

Connecticut residents reacted to the news. 

"Cost of living, taxes, real estate itself, housing expensive, there's a big difference," Jessica Torres, of Middletown, said. "I think it's very true right now. It's pretty accurate. Connecticut is one of the highest, expensive states there is." 

"I think the economy is so down right now and the pay is somewhat good, but the increase in groceries, electricity bills, doesn't help," Pat Golak, of Durham, said. 

To see pictures of states where you are most likely to live paycheck-to-paycheck, click here. 

For more information about the survey, click here

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