Do most Americans struggle financially?

Yes, a significant portion of Americans struggle financially, with many "just getting by" or finding it difficult to make ends meet, facing challenges with high costs for essentials like housing, food, and utilities, despite some positive economic indicators, though perceptions vary. Recent surveys show a large percentage report financial stress, with a substantial minority living paycheck-to-paycheck or unable to cover emergencies, while a smaller group feels more secure but worries about the future, making financial health a widespread concern.

What percentage of Americans are struggling financially?

A significant portion of Americans struggle financially, with recent data showing around one-third (32%) in crisis or struggling, nearly half (49%) living paycheck to paycheck, and many finding basic necessities hard to afford, highlighting broad economic strain across different demographics. While some reports show percentages around 27% reporting "just getting by" or "difficult to get by," other measures, like living paycheck to paycheck or struggling with expenses, suggest the struggle impacts far more, possibly up to 67% or more when considering various aspects like debt and unexpected costs. 

Why is everyone struggling financially right now?

Yes, many Americans are facing financial struggles due to a variety of factors such as rising living costs, stagnant wages, and insufficient savings. Many individuals live paycheck to paycheck, with limited emergency funds, making it challenging to handle unexpected expenses.

What percent of Americans are 100% debt free?

Around 23% of Americans are debt free, according to the most recent data available from the Federal Reserve. That figure factors in every type of debt, from credit card balances and student loans to mortgages, car loans and more. The exact definition of debt free can vary, though, depending on whom you ask.

How much does the average American have saved in their bank account?

The average American's savings account balance varies greatly, with the median (typical) transaction account balance around $8,000, while the mean (average) is much higher, over $62,000, due to wealthy outliers skewing the average. Data from the Federal Reserve's 2022 Survey of Consumer Finances shows significant differences by age, with younger adults having less savings than older individuals, but generally, many Americans struggle to cover unexpected expenses, with just over half having savings for three months of expenses.
 

Broken America: How Cities become Slums in the Richest Country in the World | ENDEVR Documentary

How many Americans have $100,000 in their savings account?

About 12% to 22% of Americans have over $100,000 saved, depending on whether it's just checking/savings or includes retirement/investments, with around 45% of older households reaching this milestone in total assets. Recent data shows about 12% have $100k+ in checking/savings, while around 22% have $100k+ in retirement savings, but a significant portion of households (nearly half) have little to no retirement savings, with roughly 80% having less than $100k saved overall.
 

What's considered middle class income?

Middle-class income varies significantly by location and household size, but generally, it's defined as two-thirds to double the area's median household income, with broad ranges like $56,600 to $169,800 nationally (2022 data) or specific state figures like California's $63,674 to $191,042 (2025 data), considering local cost of living.
 

How many Americans have $20,000 in credit card debt?

A majority of Americans (53%) carry some, with an average balance of $7,719. However, a third of those carrying debt (32%) owe $10,000 or more, while almost 1 in 10 (9%) have credit card debt over $20,000.

Is being debt-free the new rich?

Yes, for many people, being debt-free feels like the new rich because it provides immense financial freedom, peace of mind, and security, even if it doesn't mean having millions in the bank; it shifts the definition of wealth from pure income to a lack of financial burdens, allowing for more saving, investing, and enjoying life without stress. While traditional wealth is assets minus liabilities, eliminating debt frees up income for wealth-building, making it a significant step towards financial well-being and independence, especially as many struggle with rising costs and stagnant wages. 

What is the credit card limit for $70,000 salary?

The credit limit you can expect for a $70,000 salary across all your credit cards could be as much as $14000 to $21000, or even higher in some cases, according to our research. The exact amount depends heavily on multiple factors, like your credit score and how many credit lines you have open.

What has Joe Biden done to the economy?

President Biden's economic policies focused on "Bidenomics," aiming for "middle-out, bottom-up" growth through major legislation like the Inflation Reduction Act (IRA) and CHIPS and Science Act, leading to significant job creation, a strong labor market (low unemployment for diverse groups), reshoring of manufacturing, and increased investment in clean energy, though these policies coincided with high initial inflation and rising costs for some goods, contrasting with strong GDP growth and wealth gains for many households. 

Is $40,000 a year considered poor?

A $40,000 salary is classified as lower-middle class, which is defined as households that earn between $30,001 and $58,020 a year.

What is the $27.40 rule?

The $27.40 Rule is a personal finance strategy to save $10,000 in one year by consistently setting aside $27.40 every single day ($27.40 x 365 days = $10,001). It's a simple way to reach a large financial goal by breaking it down into small, manageable daily habits, making saving feel less intimidating and more achievable by cutting small, unnecessary expenses like daily coffees or lunches.
 

What state is #1 in poverty?

Mississippi consistently ranks as the U.S. state with the highest poverty rate, often followed closely by states like Louisiana, New Mexico, West Virginia, and Kentucky, though rankings shift slightly by year and data source (Official vs. Supplemental Poverty Measure). Mississippi struggles with low median incomes, low educational attainment, and high rates of child poverty, making it the poorest state by several metrics, according to World Population Review and other sources.
 

How many US citizens live paycheck to paycheck?

Estimates vary, but recent 2025 data suggests around 24% of U.S. households (Bank of America) live paycheck-to-paycheck by spending nearly all income on necessities, while other surveys show much higher figures, like 62-67% of Americans needing their next paycheck to cover bills, with significant numbers across all income levels feeling financially strained. The difference often lies in definitions: some measure strict spending on essentials (housing, food, utilities), while others ask about reliance on the next paycheck for any spending. 

What percentage of Americans have nothing in savings?

Around 24% to 34% of Americans have no emergency savings, depending on the survey, with figures from late 2024 and 2025 showing roughly 1 in 3 adults lacking a safety net, while closer to 40-46% lack retirement savings, highlighting significant financial vulnerability for many households. 

Is $100,000 a year considered wealthy?

Earning $100,000 a year puts you above average in the U.S. and often into the "upper-middle class," but whether it feels "rich" depends heavily on your location (cost of living), household size, debt, and lifestyle, as it may cover basics comfortably in some areas but feel tight in expensive cities or with dependents. It's considered a strong salary, allowing for savings and a good lifestyle, but not "wealthy" like the top 1-5% of earners, who make significantly more. 

Which actor wiped out debt for 900 families?

Actor Michael Sheen paid off $1.3 million worth of debt for his neighbors. Plus, this guy has been diving for lost golf balls for 30 years.

Is $30,000 in debt a lot?

Yes, $30,000 in debt is a significant amount that requires attention, though whether it's "a lot" depends on your income and expenses; financial experts often look at your Debt-to-Income (DTI) ratio (over 43% is high), but $30k, especially in high-interest credit cards, can be overwhelming, taking decades to pay off without a strategic plan. It's a serious wake-up call, but manageable with discipline, budgeting, potentially lowering interest rates, and seeking help from a credit counselor. 

What age group has the most debt?

The age group with the most total debt in the U.S. is typically Generation X (ages 40s-50s), driven by large mortgages, while Millennials (30s-40s) have high student debt and are accumulating credit card debt, and older groups like Baby Boomers carry substantial mortgage balances but are paying them down, showing debt shifts from education/vehicles to housing and retirement savings as people age.
 

Are Americans finding it harder to pay off debt?

However, Thursday's report also showed that Americans appear to be having more difficulty dealing with that debt — specifically for auto loans and credit cards. The share of households becoming seriously delinquent (a missed payment for 90+ days) on their auto loans and credit cards are at 14-year highs.

How much is the average person in debt?

The average American's total debt hovers around $105,000, heavily influenced by mortgages, with significant variation by age, as Gen X and Millennials often carry more debt, while younger groups like Gen Z have lower figures, according to late 2024/early 2025 data. This total includes mortgages, student loans, auto loans, and credit card balances, with mortgages being the largest portion. 

What salary puts you in the upper class?

An upper-class salary varies significantly by location and household size, but generally starts around $170,000 to $200,000+ for a household, with some defining it as twice the national median income (over $167,000) or requiring over $700,000 to reach the top 1% in some areas, while others use thresholds like over $153,000 or $200,000 for the top 20% nationally, highlighting that high-cost areas like California demand much higher incomes for the same status. 

How much does the average middle class person have in savings?

The average middle-class person's savings vary, but recent data shows the median bank account balance is around $8,000, while the average (mean) is much higher at about $25,000-$44,000 for middle-income brackets, reflecting a wide range of savings, with many having less than $1,000 and some having significant retirement funds. For example, households earning $60k-$90k have a median of $7,400 in bank accounts, but higher income groups (>$90k) have significantly more, with medians over $15,000, showing how income impacts savings. 

Is middle class shrinking in America?

Yes, the U.S. middle class has been steadily shrinking for decades, falling from 61% of adults in 1971 to around 50% by 2021-2023, with many moving into upper-income brackets, while a growing lower-income tier also contributes to the decline in the middle's share, driven by rising inequality, technological shifts, globalization, and stagnant wage growth for many.