A report revealed 62 percent of United States adults live paycheck to paycheck.
A report by PYMNTS and LendingClub, a peer-to-peer lending platform,that as of February, 62 percent of Americans live paycheck to paycheck, including 48 percent of high-income consumers.
“Inflation has made life more and more expensive, and consumers have already made moves to cope, such as pulling back on discretionary expenses,” the report read. “But one can only pull back so far on spending, and PYMNTS’ data reveals that consumers are finding another way to navigate their lower purchasing power.”
The report noted 39 percent of those who lived paycheck to paycheck “with issues paying their bills” mentioned “extraordinary expenses” as their reason for seeking side work. The report surveyed 4,125 U.S. consumers from Feb. 7 to Feb. 23 and also considered economic data from other sources.that in January 60 percent of consumers were living paycheck to paycheck, two percent lower than in February.
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