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posted by martyb on Wednesday September 29 2021, @05:50AM   Printer-friendly
from the what's-in-your-wallet? dept.

70% of Millennials Are Living Paycheck to Paycheck: Survey:

Millennials' wallets are rather skimpy.

Seventy percent of the generation said they're living paycheck to paycheck, according to a survey by PYMNTS and LendingClub, which analyzed economic data and census-balanced surveys of over 28,000 Americans. It found that about 54% of Americans live paycheck to paycheck, but millennials had the biggest broke energy.

By contrast, 40% of baby boomers and seniors said they live paycheck to paycheck, the least of any generation. Living paycheck to paycheck reflects economic needs and wants just as much, if not more than, incomes or wealth levels, according to the report. Age and family status also factor in greatly. This explains why millennials, who turn ages 25 to 40 this year, are struggling.

[...] It doesn't help that millennials have faced one economic challenge after another since the oldest of them graduated into the dismal job market of the 2008 financial crisis. A dozen years later, many are still grappling with the lingering effects of The Great Recession, struggling to build wealth while trying to afford soaring costs for things like housing and healthcare and shouldering the lion's share of America's student-loan debt.

The pandemic threw yet another wrench into their plans by giving them their second recession and second housing crisis before the age of 40. The report acknowledges that the pandemic played a major role in that stretched thin feeling.

[...] It seems, then, that it's a combination of external economic circumstances, a precarious life stage, and some spending habits that are leaving millennials feeling strapped for cash.


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  • (Score: 0, Touché) by Anonymous Coward on Wednesday September 29 2021, @04:45PM (5 children)

    by Anonymous Coward on Wednesday September 29 2021, @04:45PM (#1182810)

    Ok sociopathic asshole, typical of rightwingers.

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  • (Score: 0, Troll) by khallow on Wednesday September 29 2021, @05:34PM (4 children)

    by khallow (3766) Subscriber Badge on Wednesday September 29 2021, @05:34PM (#1182840) Journal
    I take it you're bringing the sociopathic assholeness to this thread? I continue to find it interesting how people can go on and on about how bad I am, but can't spare a word to actually disagree.

    Two minute hates don't go far with me.
    • (Score: 0) by Anonymous Coward on Thursday September 30 2021, @12:15AM (3 children)

      by Anonymous Coward on Thursday September 30 2021, @12:15AM (#1182985)

      You defend and promote the worst of capitalism, ignore problems, and pretend business as usual is just fine. You are a disciple of Reagan, and it is sickening not only in its greed but its absolute stupidity regarding the economy. Once you stop defending policies and practices that have been proven not only wrong, but amoral, THEN you will stop being insulted. Easier to pretend no one actually addresses your problems, such trolling bullshit and trumpian levels of narcissism denial.

      /s thank you for driving away better users with your constant spew of pro-capitalist anti-science bullshit disguised as objective rational thinking, soon you rightwing nutters will have your echo chamber

      • (Score: 1) by khallow on Thursday September 30 2021, @12:51AM (2 children)

        by khallow (3766) Subscriber Badge on Thursday September 30 2021, @12:51AM (#1182997) Journal

        You defend and promote the worst of capitalism, ignore problems, and pretend business as usual is just fine.

        The "worst"? Like billions of people getting elevated out of poverty? There's something deeply wrong with your narrative.

        Once you stop defending policies and practices that have been proven not only wrong, but amoral,

        Like what?

        /s thank you for driving away better users with your constant spew of pro-capitalist anti-science bullshit disguised as objective rational thinking, soon you rightwing nutters will have your echo chamber

        You're welcome! Funny how the "better users" have such chips on their shoulders.

        • (Score: 0) by Anonymous Coward on Friday October 01 2021, @05:30PM (1 child)

          by Anonymous Coward on Friday October 01 2021, @05:30PM (#1183434)

          So you're a one trick pony. Well, that isn't accurate. You've used many different tricks over the years, but you seem to only be able to remember how to use one at a time.

          • (Score: 1) by khallow on Friday October 01 2021, @05:38PM

            by khallow (3766) Subscriber Badge on Friday October 01 2021, @05:38PM (#1183440) Journal

            So you're a one trick pony.

            A trick that elevates billions of people out of poverty. You don't need a second trick when you have that.

            You've used many different tricks over the years, but you seem to only be able to remember how to use one at a time.

            Vague accusations without even the slightest effort at providing evidence. How many years have you been peddling that narrative?