Nearly six in 10 American adults report living on a paycheck in an economic climate riddled with inflation and fears of recession, according to a new poll.
CNBC-Momentive Survey According to the Financial Confidence Survey, 58% of Americans say they live on a paycheck, and 70% say their financial situation is stressful.
Nearly 80% of those earning less than $50,000 and 74% of those earning between $50,000 and $99,999 say their financial situation is stressful. And even among those earning $100,000 or more, 57% say they feel stressed.
Nearly 80% of those making less than $50,000 a year said they were living paycheck to paycheck, compared to just 32% of those making $100,000 or more.
Fifty-nine percent of respondents across all income groups cite inflation as a cause of economic stress.
More than 40% cited ‘overall economic instability’, while about 35% cited rising interest rates and lack of savings. Nearly a third cited health care and medical expenses.
The survey, conducted March 27-31, included 4,336 US adults and had a margin of error of plus or minus 2 percentage points.
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