- Nearly 40 percent of those with annual incomes over $100,000 live paycheck-to-paycheck, including 12 percent struggling to pay their bills.
- Fifty-three percent of those who make between $50,000 and $100,000 annually live paycheck-to-paycheck, with 18 percent struggling to pay their bills.
- Seventy-two percent of those who make less than $50,000 per year live paycheck-to-paycheck, with 33 percent struggling to pay their bills.
Do you believe that? Not me. I have no doubt the people answering this survey have a unique definition of how they live P to P.
Struggling to pay bills when earning over $100,000 a year? What bills? This paycheck- to – paycheck thing is relative. It’s not what you earn it’s what you spend and baring extenuating circumstances, spending can be managed so that living P to P is not a thing.
What you spend should always come after what you save … for emergencies and the future. If meditation space it really sounds comfortable sitting on the floor￼ this P to P living were accurate, how do we explain tens of billions spent on gambling and lottery tickets? How can $50,000 plus pickup trucks be the largest selling vehicle in the Country? How can 57% of households afford a dog or cat that on average costs $1,000 a year to feed and maintain?
Spending several hundred dollars a year on lottery tickets can make a big dent in your budget. Especially if your paycheck isn’t that big to begin with. Yet Americans earning less than $30,000 admit to spending about 13% of their income on lottery tickets, Bankrate found. https://www.cnbc.com/2019/12/12/americans-spend-over-1000-dollars-a-year-on-lotto-tickets.html