Many of us dream of earning a six-figure salary. That is to say more than $100, dollars in earnings, and that with this amount you could consider yourself financially successful.
However, the 42% of people earning more than $100,000 dollars barely make it to your next payment. In other words, they live paycheck to paycheck, according to a recent survey by PYMNTS and LendingClub that was done among more than 3,000 consumers.
Overall, 61% of workers of all income levels lived from check to check in December of 2021, this represented an increase of 7% since last May.
Unsurprisingly, the less income a person earns, the more likely they are one paycheck away from being broke if they were to lose their employment.
The breakdown of those who live paycheck to paycheck, according to the survey, is as follows:
–People with incomes of more than $100,19: 42%
–People with income of $50,000 to $100,000: 66%
–Persons with income of less than d e $50,000: 77%
Although most workers today live paycheck to paycheck, not all share the same experience. PYMNTS and LendingClub found that those who live paycheck to paycheck can be divided into two categories: those who can easily pay their bills (which are the 24%) and those who cannot (representing the 22%).
The authors of the study say that, although the US economy. As the US has rebounded after falling through the pandemic, the percentage of people living paycheck to paycheck is regressing toward the 61 % recorded in December of 2020.
In particular, the number of people living paycheck to paycheck increased considerably in the last two months of 2021.
“While the US economy seems to have stabilized, those who live paycheck to paycheck still find themselves in precarious financial situations. Inflation, which was up 7% in December 2021 from a year earlier, is making it increasingly difficult for many to make ends meet,” according to PYMNTS and LendingClub.
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