(Undated) – Nearly a quarter of American households are living paycheck to paycheck.
A new analysis from Bank of America found slow wage growth has contributed to an increase in households with limited savings, and lower income as well as middle-aged households are bearing the brunt of rising costs.
Findings also reveal the number of households in the Northeast and Midwest living paycheck to paycheck has increased while it decreased for those living in the South and West.
Bank of America’s report defined households as living paycheck-to-paycheck if in the quarter their necessity spending exceeds 95-percent of their income.
