How do they define paycheck to paycheck? I believe people are struggling, but I want to make sure I have the numbers right when the wonks get all mathlete with statistics.
It also has a logical flaw built right in: debt. If peoples’ debt is increasing … are they even succeeding in living paycheck to paycheck?? That sounds more like a plane in the process of crashing, and no one will call it a crash for the simple fact they haven’t hit ground, yet…
How do they define paycheck to paycheck? I believe people are struggling, but I want to make sure I have the numbers right when the wonks get all mathlete with statistics.
Exactly. You could be maxing Roth and ira, drive new cars, pay on a million dollar house, and live paycheck to paycheck.
Paycheck to paycheck usually denotes all of your paycheck goes strictly towards critical expenses (food, housing, bills).
This is how they’re defining it in their study: https://www.pymnts.com/consumer-finance/2022/what-is-paycheck-to-paycheck/
It also has a logical flaw built right in: debt. If peoples’ debt is increasing … are they even succeeding in living paycheck to paycheck?? That sounds more like a plane in the process of crashing, and no one will call it a crash for the simple fact they haven’t hit ground, yet…