Share of Six-Figure Earners Living Paycheck to Paycheck Up From Last Year

In April, 49% of individuals making over $100,000 per year were living paycheck to paycheck.

Man opening wallet, with debt expense bills and credit cards, at a table.
(Image credit: Getty Images)

Although inflation has been slowing, Americans are still feeling its effects. According to a recent study from PYMTS and LendingClub, 61% of consumers were living paycheck to paycheck in April 2023. 

Even those making well over the average U.S. yearly salary of $58,563 were struggling to stay ahead financially. In fact, the report found that 49% of individuals making over $100,000 per year were living paycheck to paycheck this April. This is up 7% from April of last year.

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All urban consumers69.2%
Swipe to scroll horizontally
Header Cell - Column 0 Urban areaSuburban areaRural area
Paycheck just covers basic bills25.3%25.2%33.3%
Have to repay a significant debt14.6%19.5%18.1%
Have to pay for costs of other family members16.4%16.2%11.2%
Buy unnecessary items15.5%15.2%12.7%
ave used a significant share of savings10.6%7.9%8.3%
Do not earn enough to cover basic bills4.7%5.6%5.7%
Have to pay large medical bills5.8%3.5%4.8%
Unstable employment situation5.2%2.3%2.4%

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Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.