I'm confused about that figure, since not having any savings to fall back on seems to me to be the definition of living paycheck-to-paycheck. How is that not 1

I'm confused about that figure, since not having any savings to fall back on seems to me to be the definition of living paycheck-to-paycheck. How is that not 100%? The argument you're making seems tautological, and doesn't really account for the elasticity of people's spending habits, or the income ranges they fall into in the first place.