More than half of Wisconsin residents are living paycheck-to-paycheck and have no “rainy day” fund that would cover thee months of unanticipated financial emergencies, a survey released this week says.
The Financial Capability Survey conducted by FINRA, the self-regulating agency of the investing industry, said 55% of Wisconsinites report spending all or a little more than their household income, which is similar to the rate nationwide. About 57% of Wisconsin resident don’t have emergency money stashed away, slightly better than the national average of 60%.