“63% of Americans are living paycheck to paycheck — including nearly half of six-figure earners”
October 24, 2022
“As of September, 63% of Americans were living paycheck to paycheck, according to a recent LendingClub report — near the 64% historic high hit in March. A year ago, the number of adults who felt strained was closer to 57%.
“Consumers are not able to keep up with the pace that inflation is increasing,” said Anuj Nayar, LendingClub’s financial health officer…
The consumer price index, which measures the average change in prices for consumer goods and services, was up 8.2% year over year in the latest reading, still hovering near the highest levels since the early 1980s…
Even high-income earners are stretched too thin, LendingClub said. Of those earning more than six figures, 49% reported living paycheck to paycheck, a jump from the previous year’s 38%…”
It call the “working poor.” It doesn’t matter how much a person makes. It matters how much they save. This is what acquires wealth. Also let me say this. If a person makes 6 figures and can’t save money they have a major problem. Live below your means. There’s no excuse for their bad spending habits in my opinion.