Living
Financial Stress Spans All US Income Brackets, Survey Shows
- High earners cite paying for a family member’s costs as driver
- Living costs add to financial insecurity, Pymnts.com reports
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About two-thirds of American consumers who live paycheck to paycheck said they experienced at least one sudden income disruption -- from losing a job to a serious illness or the birth of a child -- in the past three years, according to a survey.
The findings highlight the financial insecurity faced by many households in the US, even among high earners. In the survey, a partnership of industry publication Pymnts.com and LendingClub Corp., consumers in the upper-income bracket often cited paying for a family member’s expenses as a driver of financial distress.