As a result, the share of Americans saying they live paycheck to paycheck has been growing fairly steadily for the past two years, a recent Bank of America survey found.
Nearly half of Americans at least somewhat agree with the statement, "I am living paycheck to paycheck," as of the third quarter of 2024.
Importantly, how each respondent defines living paycheck to paycheck may vary.
By that measure, around 30% of American households are living paycheck to paycheck, according to Bank of America's internal data.
If it becomes unaffordable, that person may feel like they're living paycheck to paycheck, Tinsley says.
Persons:
that's, David Tinsley, Tinsley
Organizations:
of America, Bank of America, Bank of, Bank of America Institute
Locations:
Bank