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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.
(Score: 0) by Anonymous Coward on Thursday September 30 2021, @06:08PM
See my subject line above & what I stated on stale data the troll scumbag I am trashing above in the p.s. in the post I am replying to & THIS https://soylentnews.org/comments.pl?noupdate=1&sid=45162&page=1&cid=1183139#commentwrap [soylentnews.org] clearing MY GOOD NAME as a GOOD USA CITIZEN doing my "civic duty" paying my taxes vs. that IMBECILE you "upmodded" here LYING and using STALE DATA lol (he did so by sockpuppets obviously for his "upmod", & your admins here KNOW YOU SWINE DO IT via sockpuppet accounts galore around here too as I've noted in my other posts as proof of that also) is in the crapper after that link!
Corrected in less than 1 day's time in MY FAVOR on multiple fronts! No way could I have done that in 1 day IF I had to pay - too much time in bank transfers & verifying on THEIR END as to my already having paid up or not (I did in Dec 2020), I already did & this is the proof!
* LMAO - NOT ONLY DID THAT MORON FAIL BADLY but additionally HE GOT ME PAID ANOTHER $50 for errors the county made in my favor in credits not being applied to me as well as correcting their stale data that made me look bad (& that the jealous little troll who is "attacking me" only to fall FLAT ON HIS FACE with now, as well my county now also getting a BETTER ARCHITECTURE FROM "yours truly" on HOW to keep their data up to date also from me...)
APK
P.S.=> Double BONUS & yes "The Lord works in MYSTERIOUS ways" in my favor vs. the scumbags around here (especially the jealous little "ne'er-do-well" others here are even telling to STFU since he projects he is a worthless failure and JEALOUS AS HELL of anyone that's successful in life)... apk