Survey: Nearly two-thirds of Americans are living paycheck to paycheck

A brand new survey discovered that People dwelling paycheck to paycheck elevated during the last 12 months, with almost two-thirds of People reporting that they achieve this.

About 64 % of customers stated they have been dwelling paycheck to paycheck on the finish of 2022, in accordance with a report from Pymnts and LendingClub. The report discovered that the quantity is about 9.3 million greater than the earlier 12 months and contains about 8 million individuals making greater than $100,000 per 12 months.

The analysis additionally discovered that 4 out of 5 customers anticipate their private funds to enhance over the following 12 months, which is up 7 share factors from July 2022. About one-third suppose that their private funds will keep the identical, and 27 % consider their conditions will worsen. These making greater than $100,000 per 12 months are the most probably group to suppose that their prospects will enhance.

For individuals who consider their monetary conditions will worsen, most cited inflation and financial uncertainty as important causes. About 75 % of those that suppose their funds will worsen stated inflation was the highest motive, and about one-third cited financial uncertainty.

Of these not dwelling paycheck to paycheck, 72 % are frightened about financial uncertainty in comparison with 62 % frightened about inflation, in accordance with the report.

The research surveyed almost 4,000 individuals between Dec. 8 and Dec. 23.