58% Of Americans Living Paycheck-To-Paycheck

FILE – In this June 15, 2018, file photo, cash is fanned out from a wallet in North Andover, Mass. Heading into the second half of 2022, it’s a good time to pause and check in on your financial life. But what should your midyear money checklist include? (AP Photo/Elise Amendola, File)

Inflation has more than half of U.S. households living paycheck-to-paycheck, according to a new report.

A study by LendingClub says 58% of Americans live paycheck-to-paycheck – that’s more than 150 million adults.

It’s not limited to low-income households – the study found that 30% of those earning $250,000 or more are also going week-to-week.

Many are using credit cards to stay on top of expenses – credit card balances reached $841 billion in the first three months of 2022.

Fighting inflation, Governor Gavin Newsom, along with Senate President Toni Atkins and Assembly Speaker Anthony Rendon reached an agreement to use the state’s budget to provide 23 million Californians with $1,050 “inflation relief” checks.

“California’s budget addresses the state’s most pressing needs, and prioritizes getting dollars back into the pockets of millions of Californians who are grappling with global inflation and rising prices of everything from gas to groceries,” Newsom said in a statement.

Are you living paycheck-to-paycheck? Will the “inflation checks” help you? Share your experience on KGO 810’s Facebook and Twitter.

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