One in five households earning $150,000+ now live paycheck to paycheck.

Sharing is Caring!

According to Bank of America, one in five households earning over $150,000 annually is living paycheck to paycheck. These households are spending over 95% of their income on essential expenses like food, utilities, childcare, and rent.

See also  60 Minutes admits they edited an answer from Kamala Harris during their interview

This financial strain is not limited to lower-income households. Higher-income earners are facing similar pressures, driven by expenses such as larger mortgages, property taxes, and childcare. Despite inflation cooling, these daily costs continue to eat up a significant portion of their income.

The report also highlights generational differences, noting that baby boomers and Gen Xers are more affected by paycheck-to-paycheck living.

Sources:


Views: 60

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.