With inflation rates sitting at a 40-year high, taxpayers continue to struggle financially as the economy begins to slow.
More than half of all U.S. consumers lived paycheck-to-paycheck last month, according to a new LendingClub report released on Monday.
The LendingClub, a peer-to-peer lending company, reports that 58% of U.S. consumers were living paycheck to paycheck last month, a 4% increase from last year.
With inflation rates sitting at a 40-year high, taxpayers continue to struggle financially as the economy begins to slow, as illustrated by the latest decrease in retail sales last month.
“Consumers have experienced a tough last couple of years as different factors have affected their financial lifestyle and there seems to be little relief in sight,” said Anuj Nayar, LendingClub’s financial health officer.
Sixty-five percent of all paycheck-to-paycheck consumers report having “experienced a financially stressful event in the past three years, with sudden income disruptions such as losing a job being the most common,” the LendingClub says.
Many of these financial disruptions, such as the loss of one’s job, arose because of the pandemic and its harmful economic effects, the LendingClub found.
Out of those reporting having experienced a financially stressful event, 77% say they struggle to pay their bills each month.
Half of the consumers living paycheck to paycheck say their salaries only cover basic expenses. Another 19% report spending more than they earned in the past six months.
The “Brandon” touch…everything he touches, turns into a disaster!
While he was elected with more votes than ever – I believe that enough of them were fraudulent that they stole the election! Based on the activity immediately prior to the election (Pedo-Slow-Joe in his basement hiding), there are not that many stupid people in this country that would actually have voted for this Geriatric-care candidate and his Knee-Pad-Ho VP!
Thank Your Crooked GOVT !!!!! Other countries Laugh at us !!!!
I can’t even make it from paycheck to paycheck. My savings is being used up and there is nothing left to replace what I take out.
If you’re living from paycheck to paycheck you’re a loser. I don’t care how much or how little you make, you must always spend less than you earn. When I made almost nothing, I lived off less and saved/invested the rest. When my spouse and I both were working we lived of my spouse’s earnings and saved/invested mine. Stop buying all the stuff you don’t need. Stop spending what you really don’t have to. Stop buying soda and prepared foods and fast food and subscriptions to unnecessary BS. You can live on cheaper and healthier food. Knock off the smartphones and cable tv, and all the rest that you really don’t need. It’s not easy, especially in capitalist America. But it can be done, and it’s true freedom. Don’t blame the government. Don’t blame the President. It’s up to you.
Your righteous, pious, and proudly superior lecture to everyone isn’t so much about how to stay afloat economically, but an announcement to the world that you are so smart and frugal that you managed to SAVE money.
Not because YOU were a financial genius. Not because you went without food. Not because you washed your clothes by hand and used a clothesline. Oh no.
Because your WIFE had a job that paid all the bills. That’s so funny.
GAURANTEED she wasn’t a secretary or a fast food manager or any one of the numerous middle class jobs MOST people have.
YOU had the luxury of saving YOUR paycheck.
How nice.
Lecture your BS to people who work for multimillionaires who tell their workers that they can’t afford to pay them more.
While they buy and sell properties like they are playing Monopoly. And vacation in Jamaica three times a year.
I DO, however, agree with SOME of your lecture — Go to Wal-Mart, look around for just a minute and see people who are 200-400 pounds overweight, buying cookies, ice cream, chips, sodas, and candy.
Some of these people spend $150-300 on sugary trash (and feed it to their fat kids, too!).
Just remember — two adults, both working full time in Salisbury for $15 an hour, (God help them if they have any children), have a very difficult time paying rent/mortgage, car payment, electricity, GROCERIES and GAS.
That’s the facts, Jack.
It sounds good to be you, but stop lecturing the rest of us because YOU LIVED OFF YOUR WIFE.
You completely missed what I said. I lived off myself long before marrying, and lived off less than I earned, which was very little. I am not a genius. I have gone hungry but learned about rice and beans and vegetables. I drink water, not soda. I’ve washed my very few clothes by hand and hung them to dry. After marriage we just continued to do the same. Sorry that I made you angry though. 2 adults earning a combined $30/hour is an annual income of $62,400. Cut out the unnecessary junk and you can still save and invest.
Do the real math. Gross at $62K is one thing, then take out state, Federal AND social security. One of you must have health care (still an ACA mandate), thats taken out too. Savings or pension…prob not. Gross $62K after taxes quickly becomes about $42-$44k take home. Take home to pay bills.
LMclain hit it out of the park this time! Go back to reality economics 101.
Keep Democrats OUT of office from Now on !!!