Did you know that half of Americans are living paycheck to paycheck according to Magnify Money? This means that 50% of people living in the U.S. have no money left over after all their expense are paid. What’s worse is that 67% of Americans wouldn’t be able to pay all their bills if they didn’t receive their next paycheck.
My guest today, Ismat Mangla, joins me to discuss the reality of many Americans living paycheck to paycheck and to walk us through what's going on and what people can do to better their situation. I also talk about how to calculate how much money you need to save for an emergency fund.
Ismat Mangla is the executive editor and financial planning expert at MagnifyMoney, where she oversees all of the site’s personal finance coverage.
MagnifyMoney is a one-stop shop for news, reviews, and information on how to manage and grow your money. Whether you are trying to figure out where to park your emergency savings fund or how to invest for retirement, MagnifyMoney offers the tools you need to compare, save, and grow your assets.
Ismat's personal finance and travel reporting has been featured in numerous publications such as CNN, MarketWatch, Money, and Fortune magazines.
Before joining MagnifyMoney, she spent 15 years as a business journalist at various national news outlets, where her work was recognized with several journalism awards, including the Gerald Loeb Award for Distinguished Business and Financial Journalism and the SABEW Best in Business award.
Ismat earned a bachelor’s degree from the University of Michigan and a master’s degree in journalism from Columbia University.