DEARBORN, Mich. – With more than 60% of Americans living paycheck to paycheck, it’s likely that someone you know -- if not yourself -- is living this way; trapped in a stressful cycle of trying to make ends meet.
In an effort to help our viewers break the cycle of paycheck to paycheck living, we reached out to WDIV Insiders to learn more about your individual situations and challenges.
Local 4′s money expert Rod Meloni sat down with Jason and Trish Keith, two parents from Dearborn, to hear more about their financial situation and planning, and to see if any improvements could be made.
Read: Detroit woman hopes to break cycle of living paycheck to paycheck, looks toward next chapter
The Keiths, along with their two daughters, make up the traditional family of four. Both Jason and Trish Keith work full time: Trish Keith is a Catholic school English teacher, and Jason Keith is a machinist. Between the parents, they make a good living.
The girls attend Catholic school at a reduced rate because of Trish Keith’s job, the family owns a home with a mortgage, leases a car, has a handful of credit cards, cell phones -- and they live paycheck to paycheck.
As their debt piles up, though, it is really starting to wear on the family.
Watch the family’s story in the video report above, and see what changes they’re making to their budget.
Are you living paycheck to paycheck? We’re breaking down steps you can take to break that cycle and get off the hamster wheel. Read more here.
Here are some links that can help you learn how to save money: