In According to a new study by Middle for Monetary Companies Innovation, about half of Individuals say their spending is equal to or higher than their income. For For those aged 18 to 25, that number rises to 54%.
“Half’s America have no financial cushion,” Jennifer Tescher president and CEO of CFSI, which published the study, told CNNMoney. “They We are literally living on the edge.”
The Middle The Monetary Companies Innovation also found that 57% of American adults are struggling financially, and 43% are having trouble paying bills and credit card payments. “We Our country is facing many structural challenges right now that require political solutions,” Tescher said. “We We need to remove the stigma that comes with talking about money problems and make it clear that many people are struggling.”
With One in two people spend their entire paycheck, and it could be you or someone you know. “It These are your coworkers, your receptionist, the man who mows your lawn, the woman who takes care of your children CFSI President Jennifer Tescher also states: “If To ensure your financial health. ” To understand this country in a meaningful and measurable way, we must first thoroughly understand consumer preferences, behaviors, and pain points.”
