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61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets

 
StellaBlue
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09/01/2023 10:15 AM
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61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
Key Points

The number of Americans who say they are stretched thin has remained stubbornly high, according to several reports.

Federal Reserve Chair Jerome Powell recently called for continued vigilance in the fight against inflation, warning there may even be more interest rate increases to come.
The battle against inflation is not over.

As of July, 61% of adults still said they are living paycheck to paycheck, according to a new LendingClub report, slightly more than last year’s 59%.

Lower-income workers have been the hardest hit by higher prices, particularly for food and other necessities, since those expenses account for a bigger share of the budget, studies show.

Now, 78% of consumers earning less than $50,000 a year and 65% of those earning between $50,000 and $100,000 were living paycheck to paycheck in July, both up from a year ago, LendingClub found. Of those earning $100,000 or more, only 44% reported living paycheck to paycheck.

Some 70% of Americans admit to being stressed about finances, according to a separate CNBC Your Money Financial Confidence Survey conducted in March, largely due to inflation, rising interest rates and a lack of savings.

Only 45% of adults said they have an emergency fund. For those who do have emergency savings, about 26% polled said they have less than $5,000 saved.

[link to www.cnbc.com (secure)]
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Lost Pottawatomi

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09/01/2023 10:19 AM

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Re: 61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
These stories never include the fact that one of the major causes of poverty is DIVORCE.
Nothing shall be so certain as to permit confusion.
Anonymous Coward
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09/01/2023 10:35 AM
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Re: 61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
These stories never include the fact that one of the major causes of poverty is DIVORCE.
 Quoting: Lost Pottawatomi


MAybe for silly men, not so much for wimmin...
Anonymous Coward
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09/01/2023 10:36 AM
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Re: 61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
It has to suck to live like that. How many voted for it? If you didn't maybe change your neighbors mind before it's too late
Time is running short.
Florida Man.
Anonymous Coward
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Thailand
09/01/2023 10:39 AM
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Re: 61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
this thing has been going on for years, it's not only now all of a sudden most barey live paycheck to paycheck

and when you remember that only couple of decades ago, only one spouse worked, mother was at home raising kids, and they still paid off their mortgages and had a house after all of it

you can see the root of the problem, financial > destroying families > ultimately societies

not only that, 3/4 of Americans don't even have 400 bucks in their saving accounts if something extraordinary and unexpected happens to pay their bills

sick damn life
Anonymous Coward
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09/01/2023 10:40 AM
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Re: 61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
Visually it's a far greater number than that.
Anonymous Coward
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Thailand
09/01/2023 10:41 AM
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Re: 61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
in last 100 years since 1913 dollar lost 99% of its value

great reset is thus inevitable
Anonymous Coward
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United States
09/01/2023 11:01 AM
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Re: 61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
alone May have to unsubscribe to Netflix and the other streaming services! Life is cruel.
Lost Pottawatomi

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09/01/2023 12:57 PM

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Re: 61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
These stories never include the fact that one of the major causes of poverty is DIVORCE.
 Quoting: Lost Pottawatomi


MAybe for silly men, not so much for wimmin...
 Quoting: Anonymous Coward 78963489


My ex, remarried, still can't take responsibility.

Asking for $ when she could sell some of the diamonds she bought with $ stolen by "family" court?

My kids suffer her oppression, too.
Nothing shall be so certain as to permit confusion.
Anonymous Coward
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09/01/2023 01:09 PM
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Re: 61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
These stories never include the fact that one of the major causes of poverty is DIVORCE.
 Quoting: Lost Pottawatomi


MAybe for silly men, not so much for wimmin...
 Quoting: Anonymous Coward 78963489


My ex, remarried, still can't take responsibility.

Asking for $ when she could sell some of the diamonds she bought with $ stolen by "family" court?

My kids suffer her oppression, too.
 Quoting: Lost Pottawatomi


If the courts were actually fair then this issue would get attention, but it never does.

Every damn law made is to harm straight men.
Anonymous Coward
User ID: 86256017
France
09/01/2023 01:11 PM
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Re: 61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
at least in the (near) future we will all be equal.

There is that.





GLP