Why Are So Many Of Us Living Paycheck To Paycheck?


MoneyTips

Survey Suggests Economic Overconfidence

If the economy is so great and unemployment is so low, why do so many Americans live paycheck to paycheck? And why don’t we seem to care?

The February PYMNTS.com Financial Invisibles Report attempts to answer these questions, noting, “For three consecutive quarters, consumers have been optimistic about their financial futures – even while slipping further into debt.”

Results from the corresponding Q3 2018 survey suggest that we’re relying too much on credit – giving us false confidence in our financial outlook.

Overconfidence Rules

According to the survey, 38.8% of Americans thought they were in better financial standing compared to a year ago, with 43.3% saying they were in about the same financial shape – similar numbers to the first two quarters of 2018…

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