62% of Millennials live paycheck to paycheck
A survey by Charles Schwab, which sampled 1,000 adults in the United States, shows that overall, 59% of Americans live check to check. It turns out, 62% of millennials (people ages 23-38) struggle the most between paychecks compared to 60% of Gen X, and 53% of Baby Boomers. Of those surveyed, about 38% of millennials say they feel financially stable.
There are certainly a lot of factors besides spending, like eating out, entertainment, luxury goods, that contributes to the issue. You've got college debt, inflation, and stagnant wages that also factor into the problem. I mean, before the internet happened, many Americans didn't have to worry about a cable internet bill, cell phone, Amazon Prime subscriptions, and all of that.
Are we spending more nowadays? Or are did things just get more expensive over the years?