Consumers living paycheck to paycheck

According to New Reality Check: The Paycheck-To-Paycheck Report, a collaboration between PYMNTS and LendingClub based on a survey of 2,633 US consumers, nearly half of consumers earning more than $100,000 in annual income currently live off a paycheck to another.

Get the report: New reality check: the Paycheck-to-Paycheck report

Among consumers earning more than $100,000 in annual income, 37% live paycheck to paycheck but are able to pay their monthly bills, and 12% live paycheck to paycheck and have difficulty paying their bills. The largest share of consumers with this income – 52% – do not live paycheck to paycheck.

The share of all consumers living paycheck to paycheck and able to pay their monthly bills has seen the biggest jump since October, especially among those high-income consumers. The ranks of paycheck-to-paycheck consumers struggling to pay their bills saw little fluctuation.

Among consumers earning more than $100,000, the percentage living paycheck to paycheck is trending up. The share in January was higher than it was in December and October, although lower than it was in November – when there was an increase in the percentage of living wages to paycheck but comfortably.

Consumers in this income bracket have between $11,000 and $13,000 in savings. Reported savings among consumers with incomes over $100,000 living paycheck to paycheque are not significantly different between those who have difficulty paying their bills ($11,168) and those who don’t. have none ($12,881).

Those who live paycheck to paycheck have significantly less savings than consumers in the same income bracket who do not live paycheck to paycheck ($22,263).