Another word for living paycheck to paycheckWhat is it like to live paycheck to paycheckPaycheck to paycheck wikiWhat is not living paycheck to paycheckLiving paycheck to paycheck Statistics 2022$250,000 paycheck to paycheck$100k living paycheck to paycheck

65 Percent of Paycheck-to-Paycheck Consumers Experienced ...

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3 in 10 Earning Over $250,000 Continue to Live Paycheck to Paycheck ... New Reality Check: The Paycheck-To-Paycheck Report is based on a ... SendaRelease ALLCONTACTINFO ContactUs 888-776-0942 from8AM-10PMET SendaRelease SignUp LogIn Resources Blog Journalists RSS GDPR NewsinFocus BrowseAllNews MultimediaGallery TrendingTopics Business&Money Auto&Transportation BusinessTechnology Entertain­ment&Media FinancialServices&Investing GeneralBusiness Science&Tech ConsumerTechnology Energy&NaturalResources Environ­ment HeavyIndustry&Manufacturing Telecomm­unications Lifestyle&Health ConsumerProducts&Retail Entertain­ment&Media Health Sports Travel Policy&PublicInterest People&Culture People&Culture SendaRelease SignUp LogIn Resources Blog Journalists RSS GDPR Overview DistributionbyPRNewswire CisionCommunicationsCloud® CisionIR AllProducts SendaRelease SignUp LogIn Resources Blog Journalists RSS GDPR GeneralInquiries RequestaDemo EditorialBureaus Partnerships MediaInquiries WorldwideOffices SendaRelease SignUp LogIn Resources Blog Journalists RSS GDPR 3in10EarningOver$250,000ContinuetoLivePaychecktoPaycheck Nearly40%ofThoseEarningOver$250,000CitePayingforaFamilyMembers'ExpensesasaDriverofFinancialDistressSANFRANCISCO,June27,2022/PRNewswire/--LendingClubCorporation(NYSE:LC),theparentcompanyofLendingClubBank,America'sleadingdigitalmarketplacebank,todayreleasedfindingsfromthe11theditionoftheRealityCheck:Paycheck-To-Paycheckresearchseries,conductedinpartnershipwithPYMNTS.com.TheFinancialDistressFactorsEditionexaminesthefinanciallifestyleofU.S.consumerswholivepaychecktopaycheck,thefactorsthatcausefinancialdistress–life-cycleeventsorlife-alteringevents–andtheimpactofthesefinancialstressorsontheirlives. ContinueReading Shareofconsumerswhoexperiencedanyeventthatmaycausefinancialdistress,byfinanciallifestyle KeyTakeaways:65%ofpaycheck-to-paycheckconsumershaveexperiencedafinanciallystressfuleventinthepastthreeyears,withsuddenincomedisruptionssuchaslosingajobbeingthemostcommon.Moreover,halfofpaycheck-to-paycheckconsumerssaytheirsalaryonlycoversbasicexpensesandisonereasonbehindtheirfinancialdistress. "Consumershaveexperiencedatoughlastcoupleofyearsasdifferentfactorshaveaffectedtheirfinanciallifestyleandthereseemstobelittlereliefinsight,"saidAnujNayar,LendingClub'sFinancialHealthOfficer."Whilethespecificnatureoftheeventthatcausesfinancialdistressmayvary,it'sclearweallneedtoplanfortheunexpected.It'ssimplyamatteroftimebeforesomethingwillcomeuptoknockeventhebestlaidfinancialplansaskew." Livingpaychecktopaycheckmeansdevotingallofone'ssalarytoexpenseswithlittletonothingleftoverattheendofthemonth,yetmanyoftheseconsumersremaincredit-worthy,activelymanagingtheircashflowsinrealtime.Paycheck-to-paycheckconsumersfallintotwocategories:thosewhocanpaytheirmonthlybillseasilyandthosewhostruggletodoso. TheImpactofMajorLifeEventsonLivingPaycheckToPaycheckTounderstandthedriversoffinancialdistress,thisreportsurveyedconsumersaboutlife-cycleeventssuchasgettingmarriedordivorced,birthofachild,movingresidencesandretirement,andfinanciallylife-alteringeventssuchasajobloss,seriousillness,disability,ormajorunexpectedexpensessuchasanaturaldisasterorlawsuit.Accordingtothedata,morethanhalfofU.S.consumershavefacedeitheralife-cycleeventoralife-alteringeventinthelastthreeyears.Life-cycleevents,suchasmarriageorhavingachild,arethemostcommonevents,with38%ofconsumersoverallhavingexperiencedthesesituationsinthelastthreeyears.Thesharejumpsto51%amongmillennialsbutdropsto30%amongbabyboomersandseniors.Life-alteringeventssuchaslosingajoborfacingseriousillnessinthehouseholdoccurredto33%ofallconsumersinthelastthreeyears.Whilelowincomeiscitedasacauseoffinancialdistress,paycheck-to-paycheckconsumersfromhigh-incomebracketsandlargehouseholdscitepayingforafamilymember'sexpensesasadriveroffinancialdistress.Infact,nearly40%ofpaycheck-to-paycheckconsumersearningmorethan$250,000saythisisafactordrivingtheirfinancialstruggles.HowPaycheck-To-PaycheckConsumersSaveOneinfiveconsumerslivingpaychecktopaycheckhavespentmorethanwhattheyhaveearnedinthelastsixmonths,withthosestrugglingtopaybillsseeingtheirsavingscutinhalfoverthepastyear. Closetohalfofallpaycheck-to-paycheckconsumerssaytheirsalaryonlycoversbasicexpensesandisareasonbehindtheirfinancialdistress.Whilemanyconsumersleveragecreditasafinancialtooltomanageexpensesandcashflowduringfinanciallydistressingevents,high-incomeconsumerstendtouseitmore."Settinganautomatictransfertoasavingsaccount,evenifit'sasmallamount,canhelpyouweatherthenextstormbecauseit'snotifyou'llneedthecash,butwhen.Creditcanalsobeaneffectivetooltohelpwithexpensesduringfinanciallydistressingevents,butthosestrugglingfinanciallyshouldexercisecaution,"continuedNayar."Creditcardinterestratesarerising,and,ifyoudon'tintendtopayyourbillsinfullmonthly,youcouldpotentiallygetintoasteeprevolvingdebttrap.Forthoselookingforrelief,considerrefinancinghigh-interestdebtintoalowercostinstallmentloan."Toviewthefullreport,visit:https://www.pymnts.com/study/reality-check-paycheck-to-paycheck-financial-distress-consumer-savings-credit/MethodologyNewRealityCheck:ThePaycheck-To-PaycheckReportisbasedonacensus-balancedsurveyof3,708U.S.consumersconductedfromMay10toMay23.ThePaycheck-To-PaycheckseriesexpandsonexistingdatapublishedbygovernmentagenciessuchastheFederalReserveSystemandtheBureauofLaborStatisticstoprovideadeeplookintotheelementsthatlieatthebackboneoftheAmericanconsumer'sfinancialwellness:income,savings,debtandspendingchoices.OursamplewasbalancedtomatchtheU.S.adultpopulationinasetofkeydemographicvariables:52%ofrespondentsidentifiedasfemale,32%werecollege-educatedand36%declaredincomesofover$100,000peryear. AboutLendingClub  LendingClubCorporation(NYSE:LC)istheparentcompanyofLendingClubBank,NationalAssociation,MemberFDIC.LendingClubBankistheleadingdigitalmarketplacebankintheU.S.,wherememberscanaccessabroadrangeoffinancialproductsandservicesdesignedtohelpthempaylesswhenborrowingandearnmorewhensaving.Basedonmorethan150billioncellsofdataandover$70billioninloans,ouradvancedcreditdecisioningandmachine-learningmodelsareusedacrossthecustomerlifecycletoexpandseamlessaccesstocreditforourmembers,whilegeneratingcompellingrisk-adjustedreturnsforourloaninvestors.Since2007,morethan4millionmembershavejoinedtheClubtohelpreachtheirfinancialgoals.FormoreinformationaboutLendingClub,visithttps://www.lendingclub.com.CONTACT:  ForInvestors:[email protected]  MediaContact:[email protected]  PYMNTSContact:[email protected] SOURCELendingClubCorporation × Modaltitle Alsofromthissource LendingClubNamedtoNewsweek'sListoftheTop100MostLoved... LendingClubSchedulesThirdQuarter2022EarningsReleaseand... Explore Morenewsreleasesinsimilartopics Banking&FinancialServices Surveys,PollsandResearch

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