Posts tagged LendingTree
Reports Reveal Americans Are Taking On Additional Income
April 5, 2023 // PYMNTS and LendingClub found that as of this February, 62% of all U.S. adults were living paycheck to paycheck, up from 60% a month earlier but stable year over year. The percentage of consumers living paycheck to paycheck and struggling to pay their bills has decreased over the past two years. Paycheck-to-paycheck consumers have adapted to rising inflation by adjusting their financial way of life. Most often, this has come through taking on additional income sources. Almost one-quarter of consumers have a side job, and 17% have other types of supplemental income. Most of this income is new—under two years—and most is earned by paycheck-to-paycheck consumers. Side hustles may be the solution to living paycheck to paycheck. 22% of those living from one paycheck to another but not struggling to pay monthly bills say that without their additional income sources, their financial grounding would deteriorate.