A new survey reveals that four in 10 New Jersey residents are living paycheck to paycheck, and 43 percent say they have had to cut back to make ends meet.  The survey from the Wells Fargo's Wealth, Brokerage & Retirement Group revealed that only 47 percent of New Jerseyans are currently financially comfortable with where they are today.

"I guess that's not so surprising with 23 percent of New Jerseyans overall living beyond their means," said Kyle Young, first vice president and investment officer with Wells Fargo Advisors.

Thirty-four percent are uncomfortable with the load of debt they have according to the survey.

Compared to the nation, New Jerseyans also have a dimmer outlook on whether their financial situation has improved in the past three years.  Forty-two percent say it has, compared to 51 percent nationally.  New Jerseyans under the ago of 50 are more optimistic about things than those over the ago of 50.  Fifty-two percent of those under 50 report an improved financial standing, while 32 percent over the age of 50 said things are better.

But not all the news is bad.  New Jersey residents are preparing for the future. Nearly 45 percent are cutting back on spending to save for retirement. Nationally, that number is just 36 percent.

"On average, non-retirees in the state of New Jersey tend to have almost double the retirement savings as our counterparts across the country," said Young. "On average, New Jerseyans have saved $200,000 for retirement versus the national average of $110,000."

Twenty-eight percent of non-retired New Jerseyans expect their primary source of retirement income to be Social Security.  Nationally, just 22 percent expect that.