The Blubber

57% of Americans can’t afford a $1,000 emergency expense, per Forbes Reporting.

According to two new Bankrate.com surveys, also, 57% of U.S. adults are unable to afford a $1,000 emergency expense and 35% of U.S. adults carry credit card debt from month to month, up from 29% last year. One in four or 25% of Americans would put that $1,000 unexpected expense on a credit card and pay it off over time, which is the highest seen in the nine years of polling.

Meanwhile, A recent report found that over half of American six-figure earners live paycheck to paycheck. To be specific, 51% of respondents earning at least $100,000 shared that they lived paycheck to paycheck.

LendingClub and Pymnts conducted the survey, taking into account the answers of 3,989 US participants from Dec 8 to Dec 23, 2022. Out of the sample size, 51% of respondents identified as female, with 36% earning over $100,000 annually.

In 2021, only 42% of consumers earning $100,000 or more per year said they were living paycheck to paycheck. Those earning $50,000 to $100,000 annually saw 66% living paycheck to paycheck and 78% for those earning below $50,000.

Read more details: https://unusualwhales.com/news/over-half-of-american-six-figure-owners-are-still-living-paycheck-to-paycheck