Found out 60% of Americans live paycheck to paycheck... and I'm one of them now

I saw this stat from a 2023 survey on CNN that 60% of Americans are living paycheck to paycheck. But on the flip side, is that really surprising when rent in my small town jumped $400 in two years? Does anyone else feel like this number is just going to keep climbing, or is there a way out I'm not seeing?

2 comments

2 Comments

ben2061mo ago

Started building a 3-month emergency fund after my last raise, even if it meant eating rice and beans for 6 months. That safety net honestly kept me from falling into the paycheck to paycheck trap when things got tight.

betty1361mo ago

oh come on, really? i gotta disagree here. saving up three months of expenses is way overblown for most people. you starved yourself for half a year just to have cash sitting there doing nothing when you could have used that money to invest in yourself or pay down debt faster. the whole emergency fund thing is pushed by people who think everyone's one flat tire away from bankruptcy. what about folks with good job security or family that can help? not everyone needs that big of a safety net, and the stress of grinding on rice and beans probably wasn't worth it. you're not gonna change my mind on this, but was the sacrifice really that helpful?