A lot of people get into the dangerous mentality that since the interest rates are not high that it somehow makes saving not a good idea, similar to many people in our industry who won't max out their 401k simply because the employer does not fully match.

With regards to savings and lack thereof, regardless of salary. Far too many people excuse themselves from budgeting because they believe they are stretched too far to benefit. Yet the primary benefit of a budget is to understand where all your money is going, from major bills to day to day expenses; which can be a simple as that morning coffee or a pack of gum.

Knowing where your money is going is the first step to getting yourself out of debt and a bad situation.