Majority of Americans Struggle with Paycheck-to-Paycheck Living Despite Inflation Slowdown

Despite a recent easing of inflation, 61% of Americans report living paycheck to paycheck, according to a LendingClub report. Lower-income workers have been hit hardest by price spikes, with roughly three-quarters of those earning less than $50,000 annually and 65% of those earning between $50,000 and $100,000 living paycheck to paycheck. Only 45% of those earning $100,000 or more reported the same. Rising prices, interest rates, and a lack of savings have contributed to financial stress for a majority of Americans, with more than half struggling to afford their day-to-day lifestyle. Many are relying on credit cards or dipping into savings, making them financially vulnerable.