Skip to main content

Investment Services

Skylight Financial Group logo

No plan, Know pain.

One third of Americans have no financial plans. And nearly 60% of Americans believe their financial plans need improvements.

The months leading up to the new year provide the ideal opportunity to either develop a financial plan or improve an existing one. After all, the new year sets the stage for the tax season and for changes in financial requirements.

Let’s talk about the average American household’s budgets: 

  • The average income in 2016 was $74,664. Expenditures on average were $57,311. That left $17,353 in spending money. 
  • A third of housing costs went to paying for rent or mortgage. 
  •  About 56% of food budgets go for groceries and 44% for eating out.
  • The average household spends 40% of transportation costs on vehicles (which may include making loan payments), 21% for gas and oil, and 32% on other costs, such as repairs.
  •  More than two-thirds of health-care costs cover insurance.

Research shows that more than a quarter of U.S. workers live paycheck to paycheck. More than 70% of workers said they’re in debt, and 56% say they expect to remain in debt.

Are bigger paychecks the answer? Not really. While more income pushes the percentages down slightly, higher earners still make the same mistakes and suffer the same consequences.

Nearly one in 10 workers making $100,000 or more say they live paycheck to paycheck, and almost 60% of them are in debt, according to research by CareerBuilder.  The percentages rise as income levels decline.

Use your finances more effectively, avoid living paycheck to paycheck, and start planning now to make the new year a rewarding one – contact us today.

Contact Skylight today by calling 216.592.7315 or emailing

Learn More


Adapted from Platinum Advisor Strategies

Investments are not NCUA insured. Not credit union guaranteed. May lose value. Securities, investment advisory and financial planning services offered through qualified registered representatives of MML Investors Services, LLC. Member SIPC. OSJ: 2012 W. 25th Street, Suite 900, Cleveland OH 44113. 216-621-5680. CRN202109-253693.

Century Federal Credit Union is not a subsidiary or affiliate of MML Investors Services, or its affiliated companies.