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

  • Nearly 80% of Americans surveyed said they would struggle to pay bills if their paycheck was delayed a week, up 6% from last year.

  • Over a third of Americans said they couldn't cover a $400 emergency expense, per a Federal Reserve report.

  • 34% want access to wages earlier than payday, up 13% from 2022, highlighting popularity of Earned Wage Access.

  • Some Earned Wage Access programs charge fees to access pay early.

  • Americans are becoming more pessimistic about the economy and their finances, according to surveys.

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61% Of Americans Are Living Paycheck to Paycheck: Report
### Summary 🇺🇸 61% of Americans are living paycheck to paycheck, according to a new report. ### Facts - 📊 About three-quarters of consumers earning under $50,000 and 65% of those making $50,000 to $100,000 were living paycheck to paycheck in June. - 💰 45% of those making over $100,000 reported a paycheck-to-paycheck existence. - 💸 Inflation, rising interest rates, and inadequate savings are cited as factors contributing to financial stress. - 😰 52% of respondents reported feeling more financially stressed than before the COVID-19 pandemic.
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