A third of Americans making more than $250,000 a year say they are living paycheck to paycheck, according to a survey from Pymnts.com and LendingClub Corp.
Among millennials, more than half of those making more than $250,000 say they spend all or most of their earnings each month, Bloomberg reported. (RELATED: ANALYSIS: Dems Face A Ticking Time Bomb That Might Blow Up Their Midterm Dreams)
Those making more than $250,000 represent the top 5% of earners in the United States, according to the U.S. Census Bureau.
Worried about inflation?
More than 1 in 3 Americans earning at least $250,000 annually say they are living paycheck to paycheck https://t.co/p51VjEZUaH
— Bloomberg (@business) June 2, 2022
As gas prices rise and inflation skyrockets, many Americans are finding it harder to buy a home. Sales of new homes have fallen 16.6% in the last month, the biggest month drop since 2013, according to The Wall Street Journal. Home prices have risen by 18.8% last year, according to the S&P CoreLogic Case-Shiller National Home Price Index, the Wall Street Journal reported.
United States Treasury Secretary Janet Yellen admitted that she “was wrong” about the path inflation would take in a Thursday interview with CNN’s Wolf Blitzer, after Blitzer asked if she made a mistake in downplaying the risk of inflation.
Some gas stations have taken to adding an extra digit to their pump meters, in preparation for gas prices reaching $10, according to the Post Millennial. The average price of gas has shot up to a record high number, at $4.37 per gallon.
