Report: 50% of Americans living paycheck to paycheck

FARGO, N.D. (Valley News Live) - A new report shows half of Americans are not able to handle an unexpected expense.

The report by MagnifyMoney, a section of Lending Tree, says 50% of Americans are living paycheck to paycheck.

The lower the income, the more likely someone will be living check to check according to the survey. However, they also found 31% of people making $100,000+ are still living paycheck to paycheck.

The largest expense reported by those surveyed is their rent/mortgage, following by phone and utility bills and then credit card bills.

The survey was conducted between Jan. 19-21, 2022 and involved 1,189 people.

The report also breaks down how long people of each generation could go without a check, according to the survey. It found Baby Boomers could go 17 weeks, Gen Xers could last 10 weeks, Millennials came in at 9 weeks and Gen Zers could go 7 weeks, on average.

The report also found more than seven in 10 Americans say they’re constantly stressed by finances.