Rainy Day - Part II

Yesterday, I posted about a recent study regarding how many of us have savings set aside for an emergency.
CNN did a follow up story and posted a selection of responses to its query regarding where all the money goes.

• Lots of people posted that the average American claims no money to save, but that Americans still have lots of money for flat screen televisions, iPhones and expensive coffee.   Let's call these people "squanderers."
• Other people posted that they have no money to save because all of it goes to the cost of raising a family.  Let's call these people "family first."
• And others blamed the economy, meaning that they had a reduction in income or someone in the family lost a job and they can't save a penny because all money goes to the cost of living.  Let's call these people "broke."
• Finally, there was a category of people who are doing just fine, with a good stream of income, living the high life and therefore don't feel the need to save.  Let's call these people "pay checkers."

Over the next few days, I'm going to post my thoughts on each category of people and think of ways that they can start saving.