Americans' Undefined Paycheck-to-Paycheck Ratio

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Business

Business & Economics

'Thrown into adulthood without a map': Americans share why they live paycheck to paycheck

Summary

Nutrition label

51% Informative

Over 1,100 people shared why they've lived paycheck to paycheck.

The Federal Reserve found 54% of Americans have emergency savings to cover three months of expenses.

A lack of financial education, rising living costs and debt are the main causes of the problem, Reddit user says.

The grocery list that would cost you $50 5 years ago now costs you $ 100 .

A lot of people who live 'paycheck to paycheck' have a ton of deductions for things like 401k and IRA along with spending on non essentials like expensive car payments, private schools, etc." "For me it’s healthcare that makes me live paycheck to paycheck".

"I'm not a cheapskate by any means, but I’m sure as hell not spending nearly $20 for some shitty meal from Panera delivered by DoorDash when I can pack my own lunch for like $ 3 " "For me, it is a daycare costs. We have to pay $ 720 a week for 2 kids in a standard daycare. We did not live paycheck to paycheck before having kids".

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language

possibly offensive

Hate speech

not hateful