High on income but low on savings

Survey finds those who earn over $10,000 still end up cash-strapped

Most people often assume that if someone earns more, then he or she is likely to be financially stable and able to get through hard times without much fuss.

If this is true, then high-income earners should be having an easier time during this coronavirus pandemic while those who don't earn as much would need to tighten their belts.

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A version of this article appeared in the print edition of The Sunday Times on June 21, 2020, with the headline 'High on income but low on savings'. Print Edition | Subscribe