Report: Majority of Americans Living Paycheck to Paycheck, Many Blame Rising Inflation
Recently released survey data reports that the majority of Americans are feeling the pain of inflation and living paycheck to paycheck.
PYMNTS released its latest survey, which showed that as of November, 63 percent of U.S. consumers say they are living paycheck to paycheck, a 3 percent increase from the previous month but roughly the same as this time last year.
“Paycheck-to-paycheck consumers are less likely to be stable savers and more likely to lack savings and saving capacity,” the report said. “Our data shows that living paycheck to paycheck is a strong differentiator in the likelihood of having clearly defined financial goals. More than half of those living paycheck to paycheck with issues paying monthly bills have unclear short-term or long-term financial objectives….