According to a new survey from MarketWatch Guides, almost half of Americans—48.6%—consider themselves “broke.” It’s not just about having low wages, either. The reasons behind this are more complex. Rising inflation, record household debt, and the gap between average salaries and the cost of living are taking their toll. Nearly two-thirds of people, 66.2%, say they’re living paycheck to paycheck.
What really stands out is the disconnect between what people earn and what they feel they need to feel financially secure. While the average salary is around $61,659, Americans believe they need to make about $73,785 to feel stable. On top of that, most say they’d need $17,430 in savings just to feel secure, though the average family only has $8,000 saved.
Here’s the thing: financial insecurity is high across all generations. Women, in particular, are feeling the strain more than men—55.8% of women report feeling broke, compared to 41.1% of men. And younger generations are struggling too. For many, the weight of student loans, rent, and rising costs feels impossible to manage.
But is there a way out? Experts say yes—though it’s not easy. Setting a budget, avoiding debt traps like overusing credit cards, and focusing on saving early can help. Building a financial cushion, even if it’s small at first, can make a huge difference.
Do you feel like you’re living paycheck to paycheck? What’s your plan to feel more secure?
On that note, I’m James Brown, and as always, be well. For more, check out jamesbrowntv.substack.com.
Share this post