More Than 50% of Americans Would Struggle to Pay Bills if $100 Went Missing From Their Paychecks

That's not a good thing.

There's a reason some people prefer to be salaried workers rather than go the self-employed route. When you're on salary, you can expect a predictable paycheck at preset intervals, whether it's every two weeks or once a month. And knowing exactly how much money will land in your checking account could make it easier to manage your bills.

But you might encounter a situation where your paycheck comes in at less than expected. Maybe you're having more taxes withheld. Or maybe your payroll department has simply made an error.

In a recent Paycom survey, more than 50% of respondents said they'd have a difficult time paying bills if $100 were to go missing from their paycheck. If that's the boat you're in, there are two things you need to do as soon as possible.

1. Rethink your spending

It's a good idea to leave yourself with some wiggle room in your budget for unplanned or higher-than-anticipated expenses. It's also a great thing to leave yourself some room for savings. And so if a $100 hit to your paycheck would result in you not being able to cover your bills, then it's a sign that you may be spending too much relative to your income.

If that's the case, it may be time to rework your budget.Go through your monthly expenses and figure out which ones you have the potential to trim.

If you don't want to deal with the cost and hassle of moving, you may not be able to whittle your $1,100 monthly rent down to a lower number. But perhaps you can lower your monthly spending on takeout from $150 to $100. Similarly, you may be able to cancel some subscriptions or streaming services to free up cash and give yourself more leeway.

2. Build an emergency fund

You never know when your income might take a hit not just for a single paycheck, but for a number of weeks or months. Your hours might get reduced at work, or your company might have to implement pay cuts if money is tight. That's why it's so important to have emergency savings -- money you can tap in case your income shrinks.

Your ideal emergency fund is one with enough money to cover at least three full months of essential bills. But if you have no cash reserves to speak of right now, it's going to take some time to reach the point where you're able to pay three months' worth of expenses out of your savings. So in that case, just do your best -- even if it means contributing $20 a month to your savings until you've built yourself some sort of safety net.

Ideally, the paychecks you're used to collecting will continue to arrive in full. But it's important to have a backup plan in case that doesn't happen for one reason or another. And it's definitely a good thing to put yourself in a situation where a $100 shortfall doesn't immediately force you to skip paying bills or end up in debt.