Nearly half of Americans say they live paycheck to paycheck—only 30% actually do, new Bank of America data finds [CNBC]
Bank of America Corporation (BAC)
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Source: CNBC
In recent years, that's become especially difficult for consumers as prices for essentials like rent and groceries have grown faster than wages can keep up. 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. The share shrank slightly between the second and third quarters of this year, but in 2022, less than 40% of Americans felt this way, Bank of America reports. Importantly, how each respondent defines living paycheck to paycheck may vary. So, for the purposes of the study, Bank of America set a threshold — households spending at least 90% of their income on necessities could be considered living paycheck to paycheck. By that measure, around 30% of American households are living paycheck to paycheck, according to Bank of Ame
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