Living Paycheck to Paycheck Has Become “the Main Financial Lifestyle” for U.S. Consumers

November 01, 2023

by Michael Snyder The Economic Collapse Blog

Despite the fact that our politicians in Washington have been borrowing and spending trillions of dollars that we do not have in a desperate attempt to prop up the economy, living paycheck to paycheck has become a permanent lifestyle for most Americans. In other words, well over half of the country is literally living on the brink of financial disaster. When you are living paycheck to paycheck, there is no room for error. A job loss, a business failure or a medical emergency can mean complete and utter financial ruin if you don’t have a cushion to fall back on. That is why the results of a brand new survey are so alarming. According to a report that was just released by LendingClub, 62 percent of all U.S. adults were living paycheck to paycheck last month…

 High inflation and higher interest rates continue to weigh on American households.

As of September, 62% of adults said they are living paycheck to paycheck, according to a new LendingClub report.

For years, people like me have been warning Americans not to live like this.