Paycheck to Paycheck Living on The Rise
In recent years, the number of families living paycheck to paycheck has risen sharply. For many Americans, this is the new economic reality. More and more families are falling into financial hardship, as the cost of living continues to increase. This can have serious consequences for those who are unable to make ends meet.
The Economic Reality for Many Americans
The economic reality for many Americans is that they are living paycheck to paycheck. According to a recent LendingClub survey, nearly 63% of Americans are reportedly living paycheck to paycheck. This is up from 54% just last year.
This economic reality is especially true for those who are working in low-wage jobs. According to a report from OxFam, nearly one-third of workers (52 million) in the United States earn less than $15 an hour. This means that they have to work multiple jobs just to make ends meet. And even then, they are often one unexpected expense away from being in financial trouble.
Why More and More Families are Falling into Financial Hardship
There are several factors contributing to the growing trend of families living paycheck to paycheck. For one, the cost of living is increasing while wages remain relatively stagnant. This means that families have to stretch their budgets further and sacrifice other expenses for them to make ends meet. Many people are now working multiple jobs or longer hours just to keep up with their bills. This leaves less time for fa
