INDIANAPOLIS (AP) — A new study shows that most Indiana residents live paycheck to paycheck.
The Indianapolis Star reported Thursday on the nationwide study by the Investor Education Foundation of the Financial Industry Regulatory Authority, a Washington, D.C.-based self-policing agency for investment brokers and dealers.
The agency surveyed at least 500 people in each state from June to October 2009.
The Star says the study found that about two-thirds of Hoosiers and most Americans live paycheck to paycheck and don't have savings for an emergency.
The study also found about 28 percent of Indiana residents have borrowed money from payday lenders and other high-interest-rate sources in recent years, compared with a national average of 24 percent.