More Americans rely on credit cards during emergencies, living paycheck to paycheck

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Inflation Woes: 64% of Americans Are Living Paycheck to Paycheck
  • As inflation continues its relentless trek upward, the number of Americans living paycheck to paycheck is on the rise.
  • The data also pointed to the fact that even among individuals with six-figure salaries, 48 percent of respondents also noted that they are living paycheck to paycheck. In December, that percentage was sitting at 42 percent.
  • As for those who earn between $50,000 and $100,000, 67 percent admitted that they are living paycheck to paycheck.
  • Adding to the concerns is that more Americans are relying on credit cards to pay off their bills
  • Per CNBC, citing a separate report from the financial services website Personal Capital, Americans now believe that they need to make approximately $122,000 annually—more than double the current national average salary—to feel financially secure

Read the original article by clicking here.

Leave a Reply