More Gen Zers are living paycheck to paycheck

The percentage of young Americans struggling to pay their bills has increased since 2022, Bloomberg reported April 28.

The publication examined a recent survey of nearly 3,400 consumers from LendingClub Corp. and Pyments.com.

Nearly 66 percent of Generation Zers were living paycheck to paycheck in March, up 8 percentage points from the same period last year. About 40 percent of Gen Zers said their paycheck only covers basic bills, and 31.4 percent reported high nonessential spending — the highest figure of any generation polled. 

The amount of baby boomers who reported living paycheck to paycheck fell from 54.1 percent in March 2022 to 49.5 percent this March. 

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars