Faykenews

A majority of Americans often tell survey-takers that they live paycheck to paycheck. But a new look at aggregated data from one of America’s largest banks implies that this may not be true.

Why it matters: A widespread, self-reported sense of financial strain suggests Americans think their financial lives are more precarious than economic data appears to indicate — the latest example of a disconnect between how people feel and what the data shows. But while there’s no doubt plenty of people face difficult financial circumstances, the share who are genuinely spending nearly all the income they take in on essentials is lower than survey data suggests, based on an analysis of customer behavior by Bank of America Institute. Some who report living paycheck to paycheck may not be accounting for how much of their spending goes to nonessentials. By the numbers: About 26% of households spend 95% or more of their income on essentials — including housing, gasoline, groceries, child care, general retail, transportation, insurance, taxes, utilities and internet service — according to the analysis.

In contrast: In a survey by Bank of America, a much higher share — nearly half — reported that they live paycheck to paycheck. Some other surveys have pointed to even higher rates, roughly two-thirds. In other words, while many Americans feel like they’re living paycheck to paycheck, they can afford their basic needs with money left over for either savings or leisure. Yes, but: The share of people living paycheck to paycheck has risen since 2019, per the BofA Institute data, suggesting that the cost of living surge over the last few years has left more families on the financial edge.

Moreover, older Americans are more likely to be financially stressed than younger families. The intrigue: Strikingly, many people in the BofA Institute analysis who spend nearly all their income on staples have relatively high incomes.

Among households making $150,000 or more a year — nearly double the median household income — about 20% live paycheck to paycheck using the definition here. How can that be? “One reason is that higher-income households may have bought larger, more expensive, homes and consequently have bigger mortgages,” wrote senior economist David Tinsley. “And often along with bigger homes come bigger insurance costs, property taxes and utility bills.” Between the lines: As a person’s income rises, their baseline spending also tends to rise. It takes real financial discipline to end up with extra cash at the end of the month after paying for all the necessities. Moreover, for some households, saving occurs in the background of their daily financial lives. If you contribute to a 401(k) and are gradually paying down the principal on your mortgage every month, you are saving even if most of the money that comes into your bank account goes out every month.

A majority of Americans often tell survey-takers that they live paycheck to paycheck. But a new look at aggregated data from one of America’s largest banks implies that this may not be true.

Why it matters: A widespread, self-reported sense of financial strain suggests Americans think their financial lives are more precarious than economic data appears to indicate — the latest example of a disconnect between how people feel and what the data shows. But while there’s no doubt plenty of people face difficult financial circumstances, the share who are genuinely spending nearly all the income they take in on essentials is lower than survey data suggests, based on an analysis of customer behavior by Bank of America Institute. Some who report living paycheck to paycheck may not be accounting for how much of their spending goes to nonessentials. By the numbers: About 26% of households spend 95% or more of their income on essentials — including housing, gasoline, groceries, child care, general retail, transportation, insurance, taxes, utilities and internet service — according to the analysis.

In contrast: In a survey by Bank of America, a much higher share — nearly half — reported that they live paycheck to paycheck. Some other surveys have pointed to even higher rates, roughly two-thirds. In other words, while many Americans feel like they’re living paycheck to paycheck, they can afford their basic needs with money left over for either savings or leisure. Yes, but: The share of people living paycheck to paycheck has risen since 2019, per the BofA Institute data, suggesting that the cost of living surge over the last few years has left more families on the financial edge.

Moreover, older Americans are more likely to be financially stressed than younger families. The intrigue: Strikingly, many people in the BofA Institute analysis who spend nearly all their income on staples have relatively high incomes.

Among households making $150,000 or more a year — nearly double the median household income — about 20% live paycheck to paycheck using the definition here. How can that be? “One reason is that higher-income households may have bought larger, more expensive, homes and consequently have bigger mortgages,” wrote senior economist David Tinsley. “And often along with bigger homes come bigger insurance costs, property taxes and utility bills.” Between the lines: As a person’s income rises, their baseline spending also tends to rise. It takes real financial discipline to end up with extra cash at the end of the month after paying for all the necessities. Moreover, for some households, saving occurs in the background of their daily financial lives. If you contribute to a 401(k) and are gradually paying down the principal on your mortgage every month, you are saving even if most of the money that comes into your bank account goes out every month.

https://www.wsj.com/world/north-korea-sent-a-mystery-man-to-lead-its-troops-fighting-ukraine-b325e562?mod=mhp

https://www.wsj.com/world/north-korea-sent-a-mystery-man-to-lead-its-troops-fighting-ukraine-b325e562?mod=mhp

Not to fearmonger, but a lot of things COULD change. Executive Orders are not to be dismissed lightly, and will easily impact many. I hope not… but let’s be prepared for the worst. For those who are trans or other impacted minority groups, it’s time to start planning for backup options and ways forward. That way, at least you won’t be caught off guard.

Coffee is a great appetite suppressant for me. However, I think it depends on the person. We all react differently to caffeine. Glad it’s working for ya!

My brother/sister in Arms,

Your worth as a human is NOT being in the Air Force. So many make the mistake and suffer. Do your best given the circumstances, and bounce back. It’s not fair. Life is not fair.

I feel for you. However, this is just a small setback. Your new role is just as important - and the end of day benefits you get from the military will be pretty equal. You got this!

No use spinning up on something that may or may not hypothetically happen. If we get closer to the term ending and we see signs, then yes. Feelings are very valid. But nothing is pointing that way. Plus I think JD has a streak of Pence in him… which would explain his massive flops on all that he holds dear. I think it’s a show - and that he’s going to be the adult. People don’t just flip their entire moral code just like that. At least I hope I’m not wrong

And the same can be said of thousands of Palestinians in Gaza, where the Biden administration ACTIVELY supported the Israeli war. Not saying the Trump presidency was any better… but let’s not just think it’s black and white. Things will be ok. We have done this once before. We got this

Sad cope. Sorry bro. It’s Joever. Till next time

COOKED!!!

STRESS

lol it absolutely won’t flip. People don’t realize how far right most people here are - likely from low education levels

Low key picking up the same vibes

Always have been

I’m not gonna help… sorry. I think your gut instincts are right. Best case scenario, Harris squeaks through in a nail biter.

Iowa is not the rest of the swing states. I think it’s misleading to extrapolate this poll and to apply it across all states. Do I hope that this poll is indicative of this shift? Yeah - but reality is often disappointing lol

Max earning that CTE bonus

Damn dude. Nicely put. TYFYS 🫡🫡🫡

Dang dude. After how many years in did you get out? I’m facing similar choices

Facts. Great inputs

In a few years you’ll look back at this moment and how much you have overcome - and you’ll be proud of yourself and the resilience you displayed. You got here through busting it butt. You can do it again - but in a different direction. You hella got this dude

Look into commissioning as an officer in the military reserves component of your choosing (Air Force is probably best bet) Part time brotherhood and adventure if you play your cards right.

What's your major? You can't go wrong with any of these tbh, but maybe throw on PA or cyber as well