Most Americans are living paycheck to paycheck, even those earning 6 figures

Even high-earning Americans are barely scraping by.
woman looking at paycheck


The Daily Navigator strives to help you make the best decisions in travel. While we produce content according with strict editorial integrity this post may contain references to partner products. Here’s a full explanation for how our team makes money .

According to a LendingClub report, 60% of Americans are living paycheck to paycheck.

Even high-income earners are stretching their wallets. 45% of people earning more than six figures said they are living paycheck to paycheck in comparison to 38% the previous year. 

Record high inflation rates are a big contributing factor to the low financial stability Americans are experiencing. A Bank of America report found that 71% of Americans feel that their paycheck isn’t on par with the rapidly rising cost of living. 

Many Americans are dipping into their savings accounts to keep up with costs, making them more financially vulnerable. Meanwhile, the Federal Reserve is working to quell inflation with a series of rate hikes

The news is certainly a cause for concern but maybe it will finally prove to Boomers that we Millennials aren’t in this financial crisis because of the money we’ve spent on avocado toast.

Editorial Disclaimer: Opinions expressed here are the author’s alone. This post contains references to products from one or more of our partners and we may receive compensation when you click on links to those products.

Stay in the know

Get expert insight into credit cards, loyalty programs, financial tips, and more with the Smart Points Newsletter.

Related Stories

Smart Points Logo

Stay in the know with
Smart Points Newsletter

Get expert insight into travel credit cards, loyalty programs, points tips, and more. Recent edition →

Get expert insight into travel credit cards, loyalty programs, points tips, and more. Recent edition →

Advertiser Disclosure

This article contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. The relationship may impact how an offer is being presented. Our site doesn’t include all the offers available. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.

DFC Partner Perks App Link Image
Special Discounts for Our Members

Save Big with Perks

Get $5,000+ in immediate travel savings with Perks. Unlock next level travel benefits, for life. Get discounts from the world’s best travel brands you won’t find anywhere else. No credit required.

DFC Concierge App Link Image
Special Discount for Our Members

93% off lifetime access

Save $1,200 and 10 hours of your time on every vacation. With Lifetime access to DFC Concierge, get fully customized trip itineraries to make every vacation unforgettable.

Dollar Flight Club App Link Image
Special Discount for Our Members

50% Off PREMIUM

You can save up to $500 on your next adventure without lifting a finger get email alerts when we find flights up to 90% off leaving your home airport. Just let us know your departure airport and we’ll do the rest.

The Navigator Commitment

The Daily Navigator is the cornerstone of the DFC Media family. Through each of our brands, we’re dedicated to helping our readers travel, spend, and live smarter.

With products dedicated to affordable travel, daily news, hospitality, and personal finance, we deliver the day’s essential content with none of the filler — all in a way that’s fast, easy, and fun to read. Every morning, over 2 Million travelers trust DFC to deliver the latest news and information so that they can make informed decisions faster. We hope you’ll join them.

We’re happy to have you here!