![]() 36.2% of people in this pay bracket that do live paycheck to paycheck struggle to pay their bills, while 43.5 % describe their financial state as comfortable. The largest share of people hitting zero by the end of the month earns less than $50,000 a year, which is probably one of the least surprising personal finance facts. (PYMNTS) Almost 80% of Americans earning less than $50,000 a year live paycheck to paycheck. The paycheck-to-paycheck lifestyle also includes 36% of those earning more than $250,000 annually. One of the most shocking personal finance statistics shows just how prevalent this financial model is in the US with 42% of people earning six figures or more reporting this is how they handle their money. ![]() (PYMNTS) 42% of top earners also reported living paycheck to paycheck. The number is now estimated at 157 million adults. Compared to 2021, the percentage of people who live this way has grown by another 9%. (Heritage) Living Paycheck to Paycheck 61% of Americans live paycheck to paycheck.įinancial statistics show living paycheck to paycheck is the dominant financial model in the US. While this is a global statistic, the effects of financial freedom change the game for all the individuals in a given country and they allow for more perspective. Ranking factors include the rule of law, government size, the openness of the market, and regulatory efficiency, allowing everyone to participate in the system. Singapore, Switzerland, Ireland, New Zealand, Luxembourg, Taiwan, and Estonia made the list of financially free countries, while the US ranked 25th. (APA) Financial freedom statistics show that only seven countries were rated financially free in 2022. Personal finance statistics by age group highlight that over 80% of respondents younger than 43 reported deep concern about money, while financial stress gradually decreased for respondents aged 43 and up. It’s been gradually growing in the last several months, affecting younger generations more acutely than others. (Bankrate) Statistics about personal finance and stress show that 87% of Americans are stressed about inflation.Ī survey conducted by the American Psychological Association shows that money-related stress in 2022 is at its highest since 2015. Other reasons include the pandemic, rising interest rates, personal debt, and wages that fail to follow the price of living. About half of these consumers report that their main cause for concern lies in record inflation rates, affecting the prices of gas, housing, energy, and food. US personal finance statistics suggest optimism is not the prevailing sentiment among consumers. (FinHealth) Two-thirds of people in the US are not optimistic about their personal finances in 2022. The share of people who are financially vulnerable has remained relatively stable during the research period coming at 15% or 37 million. This category encompasses 139 million people. Statistics on personal finance illustrate that most people are in the financially coping category, which has gained three points compared to the previous year. (FinHealth) The financial state of 55% of people can be described as coping. However, as the global economy changes and government help decreases, many people are only now feeling the full effects of the pandemic and economic instability. ![]() Financial health remained stable even at the start of the pandemic. People who plan their finances in a disciplined way reported being happier and sleeping better.Įssential Personal Finance Statistics 31% of people are considered financially healthy in 2022.Īccording to the Financial Health Network, the share of the financially healthy decreased by three percentage points compared to last year. The average student loan debt amounts to $28,950.Īlmost one half of teens have never created a budget. Statistics about personal finance and stress show that 87% of Americans are stressed about inflation.Ħ1% of Americans live paycheck-to-paycheck.Ħ8% of Americans can cover an unexpected $400 expense with cash or equivalent.Ħ0% of Americans have a three-month emergency fund in 2022.įamily income varies drastically by ethnicity and race.ĥ6% of parents save for their children’s education. Two-thirds of people in the US are not optimistic about their personal finances in 2022.
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