Inflation squeezes Americans as 61% say they live paycheck to paycheck

A study shows that over 60% of Americans are living paycheck to paycheck despite the Federal Reserve's efforts to control inflation, as prices for goods and services continue to rise.

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8/21/2023

A troubling share of Americans aren't paying their credit cards in full: survey

The majority of Americans are unable to pay off their credit card debt in full each month, with 51% of individuals rolling over their balances and accruing interest, according to a survey by J.D. Power. This marks a significant shift from previous years and is attributed to factors such as inflation, dwindling savings, rising interest rates, and increased everyday use of credit cards.

8/31/2023

U.S. inflation rate creeps higher, PCE finds, leaving Fed with more work to do

US inflation remains above 3% as the cost of goods and services rose by 0.2% in July, prompting speculation that the Federal Reserve may freeze interest rates to manage inflation without causing a recession.

9/2/2023

All income brackets now living paycheck to paycheck: Study

Inflation and rising interest rates have forced a majority of Americans, across all income brackets, to live paycheck to paycheck, with lower-income individuals being the hardest hit, according to a survey from Lending Club Bank.

9/11/2023

Americans Brace for Prolonged High Inflation, With Rising Prices for Necessities Expected to Continue

Americans are expecting high inflation to persist over the next few years, with a median expectation of 3.6% one year from now and estimates of around 3% three years from now, according to a survey by the Federal Reserve Bank of New York. This suggests that sticky inflation may continue to be a concern, as it surpasses the Fed's 2% target. Consumers also anticipate price increases in necessities such as rent, gasoline, medical costs, and food, as well as college tuition and home prices.

9/15/2023

High-Earning Americans Increasingly Living Paycheck to Paycheck Despite Six-Figure Salaries

Almost a third of Americans earning $150,000 a year or more are living paycheck to paycheck and relying on credit cards to cover expenses, indicating an economic divide that is widening among Americans.

9/16/2023

Gen Z Saves More and Invests Differently Than Older Generations

Approximately 75% of American workers earning up to $50,000 live paycheck to paycheck, while credit card debt has exceeded $1 trillion, making it difficult for those with debt to save; Gen Z saves more money than older generations due to their experience of the Great Recession, lack of trust in Social Security, and inclination to invest in cryptocurrency.

9/18/2023

More Americans Live Paycheck to Paycheck, Seeking Earlier Access to Wages Despite Fees

Almost 80% of Americans are living paycheck to paycheck and would struggle to meet their financial obligations if their paychecks were delayed by a week, according to a survey by PayrollOrg.

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Posted 8/31/2023, 8:12:00 PM